Riyadh-Mubasher: Zain KSA showed the best performance in the Saudi telecom sector during the second quarter of 2015, as its operating profits exceeded 100%.
Meanwhile, Mobily recorded operating losses of SAR 817 million, and Saudi Telecom Co. (STC) achieved a slight rise of no more than 1% in its operating profits.
The telecom sector recorded combined net earnings of SAR 3.65 billion in the first half of 2015, falling 26% compared with the same period a year ago, due to Mobily’s bearish financials.
The sector’s second-quarter combined earnings declined 43%, as Mobily’s losses exceeded SAR 900 million and STC’s earnings fell 8%. Meanwhile, Zain narrowed its Q2 losses by 39% to nearly SAR 200 million.
The sector’s Q2 combined operating profits dropped by 25% year-on-year from SAR 2.78 billion to SAR 2.14 billion.
Translated by Abdul Maguid Aboshahla
