Mobily revenues soar to $1.65 billion

Saudi Arabian mobile operator, Mobily, records staggering growth in 2006. Revenue soars to $1.65 billion.

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By  Reuters Published  February 7, 2007

Saudi mobile-phone operator Etihad Etisalat (known to customers as Mobily) said on Wednesday it generated revenue last year of 6.18 billion riyals ($1.65 billion).

That compares with 1.66 billion riyals from Dec. 14, 2004, to the end of 2005, the company said in a statement on the Saudi bourse Web site.

Mobily, which is 35 percent owned by Abu Dhabi-based Emirates Telecommunications Corp., did not give a figure for revenue in 2005.

Last month, it reported its biggest quarterly profit for the three-month period to Dec. 31.

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