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

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

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.


STC net profit falls 38.5% after Aircel charge

Published 22 Apr 2013 09:59 CET | Saudi Arabia
Saudi operator STC announced a 38.5 percent drop in its net income for the first quarter to SAR 1.55 billion, compared to SAR ...

Saudi Telecom CEO resigns

Published 18 Mar 2013 08:07 CET | Saudi Arabia
Saudi Telecom Co CEO Khaled Al-Ghoneim has resigned after less than a year in the job, Reuters reported. Al-Ghoneim was appointed ...

STC offers unlimited on-net voice calls and SMS

Published 15 Jan 2013 14:05 CET | Saudi Arabia
Saudi operator STC is offering current and new postpaid customers unlimited voice calls and SMS on its network for three months ...

STC adds 429 new broadband sites

Published 02 Jan 2013 22:01 CET | Saudi Arabia
Saudi operator STC has added 429 broadband network coverage sites throughout Saudi regions, committing itself to offering the ...

STC grows FTTH network to over half million sites

Published 17 Dec 2012 11:07 CET | Saudi Arabia
Saudi operator STC has expanded its FTTH network to pass more than 500,000 sites. The network length reaches over 5,500 km, ...

STC to launch iPhone 5 on 14 December

Published 06 Dec 2012 09:51 CET | Saudi Arabia
Saudi operator STC announced that it will offer Apple's iPhone 5 in the country beginning 14 December. The company is offering ...

STC introduces new top-up procedures

Published 03 Dec 2012 14:59 CET | Saudi Arabia
Saudi operator STC has introduced new ways to set-up or recharge SAWA prepaid cards and transfer balances, in order to meet ...

STC covers more than 2,000 sites with 4G services

Published 26 Nov 2012 13:15 CET | Saudi Arabia
Saudi operator STC said it has enhanced its network capability to provide the latest 4G, 3G 42 Mbps, FTTH and high-speed VDSL ...

number of mobile SIMS
Netherlands  |  2017Q3