GO Telecom announces SAR66.4m net loss in 4Q13

23 Jan 2014

Saudi Arabian fixed line and broadband operator Etihad Athleeb Telecom (GO Telecom) has published its interim results for the three months ended 31 December 2013, reporting a net loss of SAR66.44 million (USD17.72 million); the telco has blamed the loss on a re-calculation of depreciation charges. However, according to the company’s press release, the net loss represents a 21.3% improvement on the SAR84.41 million reported in 4Q12. Total operating revenue for the period under review decreased by 8% to SAR63.76 million, mainly attributed to ‘continuous price decline in the residential broadband sector, as a result of increased competition and lack of strict regulatory control in the sector, in addition to the introduction of fibre-to-the-home (FTTH) services and the spread of mobile broadband services’.

Saudi Arabia, Etihad Atheeb (GO Telecom)