The largest telecom company by market value in the Arab world, Saudi Telecom Co. (STC) has reported a better-than-expected 154% rise in Q4 net profit, partially due to capital gains, Reuters has reported. Profit was SR2.94bn ($784m) in the three months to the end of December, compared to SR1.16bn a year earlier. STC said it earned SR684m from the flotation in November of a 25% stake in Malaysia's Maxis.
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