Mobily posts 13% profit growth in Q2

Efficiency improvements and handset sales buoy profits
Mobily posts 13% profit growth in Q1


Saudi Arabian operator Mobily increased its quarterly profit by 13% year-on-year to reach in SAR 1.6 billion ($426.6m) in Q2. The telco attributed the rise mainly to “improved efficiencies”.

Mobily’s revenues reached almost SAR 6 billion in the second quarter, a rise of 5% compared to the same period last year, and a rise of 6% on a sequential basis.

Mobily said the increase was due to growth in prepaid services revenues and a rise in handset sales. The recorded revenues of prepaid services increased by 12% during the second quarter compared to the previous quarter, the telco said in a statement posted on the Saudi stock exchange website.

Mobily also reported that revenues from fibre-optic and LTE networks had surged by 89% during the first half of the year.

“The company has made great strides to strengthen its infrastructure to meet the increasing growth in demand for data services on one hand, and to target the most promising sectors, most notably the business sector and provide integrated ICT solutions on the other hand. This trend comes along with increased governmental spending on its vital facilities,” the telco said in a statement.

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