GO Telecom reports net loss of SAR85.46m in 9M15

25 Jan 2016

Saudi Arabian fixed line and broadband operator Etihad Atheeb Telecom (GO Telecom) has published its financial results for the nine months ended 31 December 2015, announcing a net loss of SAR85.46 million (USD22.78 million), up from a net loss of SAR22.52 million reported in the corresponding period of 2014. The telco blamed the development on an increase in other income in 1Q14, which was due to the sale of property with a book value of SAR60.0 million, giving GO Telecom a gain of SAR94.0 million (SAR63.4 million reflected in that quarter, with the remainder deferred). The operator’s revenues increased by 41.7% (or SAR72.5 million) year-on-year from SAR173.6 million to SAR246.1 million. GO Telecom highlighted that revenues generated by its business sector operations were up 43.3% y-o-y, while interconnection revenues increased 111.4%.

Saudi Arabia, Etihad Atheeb (GO Telecom)