In a series of announcements to the Saudi bourse, the Kingdom’s three mobile operators have announced their respective financial results for the three-month period ended 31 December 2011, Reuters reports. Saudi Telecom Company (STC) has reported a net profit of SAR2.28 billion (USD607.9 million) for the October-December quarter, down 0.3% from the figure of SAR2.28 billion generated during the same period one year earlier. Further, STC reported a 19% decrease in net income for FY2011, down to SAR7.7 billion; the telco attributed the drop in earnings to ‘foreign currency exchange fluctuation losses amounting to approximately SAR1.1 billion’
Read the article:
OVETEL Telcos reveal 4Q11 results to local bourse
No comments:
Post a Comment