0
General

STC profits hit by impairment charges

Monday 21 January 2013 | 11:06 CET | News
Saudi Telecom Company (STC) reported a 6.7 percent increase in revenues for 2012, to SAR 59.37 billion. The increase in revenues was attributed to growth in broadband (fixed & mobile), the business segment and wholesales services. Net income amounted to SAR 7.35 billion, down 4.9 percent from 2011. This was due to charges in Q4 to write down the value of investments in Cell C in South Africa and Aircel in India. 

As a result of the impairment charges of SAR 641 million and STC's share of extra regulatory fees for Aircel of SAR 544 million, net profit in the fourth quarter fell 79 percent to SAR 468 million. Excluding the charges, STC said net income would have been SAR 8.54 billion for the year, an increase of 10.4 percent compared to 2011. 

The board recommended the distribution of SAR 1.0 billion in cash dividends for Q4 2012, equal to SAR 0.5 per share. 

STC's total domestic mobile customer base increased 9.3 percent compared to Q4 2011 and 2.6 percent compared to Q3 2012. The fibre-optic network reached over 500,000 homes passed by year-end and counted more than 100,000 connected customers. 


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours. Subscribe now.

Categories: General
Companies: Aircel / Cell C / Saudi Telecom / STC
Countries: Middle East
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.






KPN market share on fixed telephony drops to 42%
Netherlands  |  2014 Q4

Calendar   /   Industry Events

20 Apr Rogers Communications Q1 2015
20 Apr Mobile Commerce and Banking Conference
20 Apr Telecoms Energy Efficiency Forum
20 Apr Open Mobile Media
20 Apr Monetising Big Data in Telecoms World Summit
20 Apr Fortinet Q1 2015
21 Apr Infinera Q1 2015
21 Apr Zhone Technologies Q1 2015
21 Apr Yahoo! Q1 2015
21 Apr TeliaSonera Q1 2015
21 Apr Tele2 Q1 2015
21 Apr ARM Holdings Q1 2015
21 Apr Broadcom Q1 2015
21 Apr Sky fiscal Q3
21 Apr Turk Telekom Q1 2015
21 Apr VMware Q1 2015
21 Apr Big Data and Predictive Analytics for Telecoms
21 Apr UC EXPO
21 Apr MVNOs World Congress
22 Apr Facebook Q1 2015
22 Apr Polycom Q1 2015
22 Apr Texas Instruments Q1 2015
22 Apr TE Connectivity fiscal Q2
22 Apr Logitech fiscal Q4
22 Apr MTG Q1 2015
22 Apr Crown Castle Q1 2015
22 Apr Millicom Q1 2015
22 Apr Adtran Q1 2015
22 Apr Telekom Austria Q1 2015
22 Apr AT&T Q1 2015
::: More Calendar Items