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. 


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.






19 hours
Dutch triple-play consumers spend on average 19 hours per week on the internet
Netherlands  |  2014 Q2

Calendar   /   Industry Events

30 Oct Time Warner Cable Q3 2014
30 Oct BT fiscal Q2
30 Oct American Tower Q3 2014
30 Oct CEVA fiscal Q4
30 Oct Teleste Q3 2014
30 Oct Megafon Q3 2014
30 Oct Ceragon Networks Q3 2014
30 Oct MaxLinear Q3 2014
30 Oct Crown Castle Q3 2014
30 Oct Inteliquent Q3 2014
30 Oct Brightcove Q3 2014
30 Oct Intelsat Q3 2014
30 Oct Samsung Electronics Q3 2014
30 Oct InterDigital Q3 2014
30 Oct Ikanos Communications Q3 2014
30 Oct Pctel Q3 2014
30 Oct Opera Software Q3 2014
30 Oct Linkedin Q3 2014
30 Oct Alcatel-Lucent Q3 2014
30 Oct Telematics West Coast
30 Oct Report: EU Mobile Benchmark Q3 2014
31 Oct KDDI fiscal Q2
31 Oct NTT Docomo fiscal Q2
31 Oct Ntelos Q3 2014
31 Oct HTC Q3 2014
31 Oct Sony fiscal Q2
31 Oct TDC Q3 2014
03 Nov Ruckus Wireless Q3 2014
03 Nov MVNO Networking Congress
03 Nov RAN World
::: More Calendar Items