GO announces 45.7% drop in profit to SAR42.84m

1 Nov 2013

Saudi Arabian fixed line and broadband operator Etihad Atheeb Telecom (GO Telecom) has published its interim financial results for the three months ended 30 September 2013, reporting a 45.7% drop in net profit to SAR42.84 million (USD11.42 million), down from SAR78.91 million reported in 3Q12. The company blamed the loss on a decrease in interconnection revenues and fluctuation in the demand for telecoms services, as competition in the broadband market intensified. Further, GO Telecom’s revenues dropped by 19% year-on-year to SAR54.9 million from SAR67.8 million in 3Q12.

Saudi Arabia, Etihad Atheeb (GO Telecom)