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30-01-20
Etihad Atheeb announces expansion of net losses in nine months
(MENAFN)
During the nine-month period ending on Dec. 31, 2019, annual Zakat and tax caused net losses of Etihad Atheeb Telecommunication Co. (GO) to be widened by 29.5 percent to SAR 62.5 million on lower revenue and other income.
The findings were also weighed by higher depreciation costs and funding charges.
Due to a decline in the cost of services, as well as selling and marketing expenditures, the telecom operator reduced its net losses in the third quarter by 23-percent year-on-year to SAR 9.8 million after Zakat and tax.
Net losses reduced by 53 per cent compared to the third quarter.
MENAFN3001202000450000ID1099625186
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