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.






+2%
Triple play market grows almost 2% in Q3
Netherlands  |  2015 Q3

Calendar   /   Industry Events

08 Feb GigOptix Q4 2015
08 Feb MaxLinear Q4 2015
08 Feb Avaya fiscal Q1
09 Feb Opera Software Q4 2015
09 Feb KDDI fiscal Q3
09 Feb Nuance Communications fiscal Q1
09 Feb Akamai Technologies Q4 2015
09 Feb Calix Q4 2015
09 Feb Telekom Austria Q4 2015
09 Feb Allot Communications Q4 2015
09 Feb Limelight Networks Q4 2015
09 Feb Com Hem Q4 2015
09 Feb Iot Data
09 Feb ТB Forum powered by Intersec 2016
10 Feb Telenet Q4 2015
10 Feb Zynga Q4 2015
10 Feb Twitter Q4 2015
10 Feb America Movil Q4 2015
10 Feb ARM Q4 2015
10 Feb Softbank fiscal Q3
10 Feb Cisco fiscal Q2
10 Feb CenturyLink Q4 2015
10 Feb Telenor Q4 2015
10 Feb Millicom Q4 2015
10 Feb IoT Tech Expo
11 Feb Nokia Q4 2015
11 Feb Brightcove Q4 2015
11 Feb Redknee Solutions fiscal Q1
11 Feb Turk Telekom Q4 2015
11 Feb Vonage Q4 2015
::: More Calendar Items