Published: Jul 22, 2014
Source: Saudi Gazette


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STC net nearly doubles in Q2

Saudi Telecom Company (STC) posted a 96 percent increase in its net profit for the second quarter to SR2.80 billion compared to the same period in 2013. 

Group chairman and MD Abdulaziz Alsugair said the result reflects the company's efforts to expand both domestically and internationally. 

The international subsidiaries in Bahrain and Kuwait, as well as a tripling in mobile data traffic, contributed to the 3 percent growth in revenue from services compared to same period last year.  

Overall international revenues for the first half of the year were up 22 percent, after excluding the divested Axis operations.

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