By: Thabet Shehata
Riyadh – Mubasher: Net profits of three Saudi-listed companies in the telecommunication sector grew 6.8% year-on-year to SAR 1.56 billion ($414.6 million) in the second quarter of 2016 from SAR 1.46 billion ($388.27 million).
The companies' net profits increased 1% to SAR 3.7 billion in the six-month period of 2016 from SAR 3.66 billion in the year-ago period, according to statistics released by Mubasher on Thursday.
Operating profits rose 22.7% to SAR 2.64 billion in Q2-16 from SAR 2.15 billion in Q2-15, while they went up 4.13% to SAR 5.75 billion in H1-16 from SAR 5.52 billion in H1-15.
Saudi Telecom Company's (STC) net profit declined 27% year-on-year to SAR 1.87 billion in Q2-16 from SAR 2.56 billion. The company’s net profit also fell 16% to SAR 4.24 billion in the first half of 2016.
Etihad Etisalat (Mobily) earned SAR 18.8 million during Q2-16 against SAR 901 million net losses for the year-ago quarter; while during the first six months, Mobily registered SAR 35.4 million profits versus SAR 945.4 million losses for the year-ago period
Saudi Mobile Telecommunications Co. (Zain KSA) posted SAR 329 million losses in Q2-16, compared to SAR 201 million in the same quarter last year. The company achieved SAR 579 million losses in H1-16 from SAR 458 million in H1-15.
'Go' posts SAR 65 million losses in 3 months
Etihad Atheeb Communication's “Go” losses widened 62.75% to SAR 65.36 million in Q1-16 from SAR 40.16 million in the same period of 2015.
The company's operating losses decreased 1.7% to SAR 70.8 million in Q1-16 from SAR 72 million in the year-ago period.
Translated by: Sara Ghali
