Riyadh – Mubasher: Saudi Telecom Company (STC) posted SAR 9.3 billion net profit for the fiscal year 2015, with a decline of 14.8% year-on-year from SAR 10.96 billon.
Ranked as the Arab World’s biggest company by profitability, STC also reported SAR 1.95 billion profit for the fourth quarter of 2015, down 20.15% year-on-year from SAR 2.44 billion and 16.02% quarter-on-quarter from SAR 2.3 billion.
The telecom operator ascribed the profit decline in the full-year and quarterly periods to a rise in services costs, coupled with lower revenues.
STC also announced a dividend distribution of SAR 2 billion or SAR 1 per share for the fourth quarter, bringing the full-year dividends to SAR 8 billion, or SAR 4 per share.
