Mobily increases revenue to SR3.9 billion and posts 162% increase in profit
Etihad Etisalat "Mobily" announced its financial results for the first half of 2007. The Company total operating revenues amounted to 3906 million Saudi Riyals compared to 2575 million Saudi Riyals for the first half of 2006 with an increase of 51.7%. The operated profit for the second quarter amounted to 2029 Saudi Riyals compared to 1448 million Saudi Riyals for the first quarter of 2006 representing an increase of 40%.
The Chairman of the Company Engineer Abdul Aziz Al Salih Al Sagheer said that the Company reported net income of 304 million Saudi Riyals for the first quarter of 2007 compared to a reported net profit of 116 million Saudi Riyals for the same quarter of 2006 (I.e. increased by 162%). Mr. Al Sagheer also explained that earning per share reached SAR 1.109 for the first half compared to SAR 00.307 in the first half of 2006. The Chairman referred this success to the dramatic increase in number of subscribers.
Mobily launched its services on the 25th of May 2005 and today Mobily network has been dramatically extended to cover all cities and major towns in the Kingdom. This is in addition to more than 25,000 kilometres of highways so far, covered by Mobily independent coverage.
Mobily has also launched 3.5G services on the 27th of June 2006, covering 19 cities in the kingdom. By the end of 2006, Mobily had more than one million active subscribers in the 3G and 3.5G, being described as the biggest 3G mobile operator in the Middle East.
In terms of services, it is worthy to mention that Mobily was has been leading in introducing new services and innovative packages in the Kingdom such as MMS, LBS, international roaming for prepaid SIM cards in addition to GPRS and GPRS EDGE roaming, and recently Mobily has launched Blackberry and connect cards for data bundles with unprecedented tariffs, as well as other services. Mobily's workforce exceeds 2750 employees with 82% of them from Saudi Arabia, and was the first to introduce female sales outlets in the telecom sector. (SR3.75=US$1)