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22-04-14

Saudi STC net income up 54 percent in Q1

(MENAFN) Net income of the Saudi Telecom Co. (STC) was higher than expected in the first quarter of the current year, according to Arab News. The company posted 54 percent rise in the quarter, and it plans to distribute dividends of USD0.199 per share. The company has also reported a 20 percent rise in operating profit during the three-month period, with major improvements in international operations. Revenue saw a 24 percent growth in the quarter compared to the same period a year earlier.