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FinancialNews


  • 22-02-22

    Saudi telecom operator STC registers surge of 3 percent

    (MENAFN) Saudi telecom giant STC has registered a surge of 3 percent to SR11.3 billion (USD3 billion) to its 2021 net profit supported by strong sales.

    According to the Riyadh-based telecom operator statement, net profit soared by SR316 million (USD84.2 million) from a year earlier, driven by a 7.6-percent increase in profits. Profits throughout the year amounted at SR63.4 billion (USD84.2 billion), surging from SR58.9 billion (USD15.6 million) in 2020.

    Based on stc’s chief executive officer, Olayan Alwetaid statement, “this was driven by the strong performance witnessed in the enterprise business unit, which was able to grow its revenues by 20.9 percent.”

    MENAFN22022022000045013568ID1103739843

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