Saudi Arabian-based mobile operator Etihad-Etisalat posted third quarter net profits of SR1.14bn ($303m) up from SR807bn in the same period last year. The 40 per cent rise is a result of higher margins from broadband revenues and reduced interconnection and service costs.
Revenue for the third quarter rose 14 per cent from last year, but is expected to slow down due to the country’s high penetration rates and lower voice revenues.
Etihad-Etisalat plans to spend SR2bn next year to improve its mobile and Wimax infrastructure in a bid to meet demand from the booming data services market.
The company is more commonly known by its brand name Mobily. It is owned by a consortium made up of Abu Dhabi-based Etisalat and six local partners.