Net profit for the first nine months of the year amounted to SR2.753 billion as compared to SR1.962 billion for the same period of last year, presenting a growth of 40 percent. Revenues for Q3 amounted to SR3.989 billion as compared to SR3.511 billion for the same period of last year, and compared to SR3.972 billion for Q2 2010.

Revenues for the first nine months of the year amounted to SR11.542 billion as compared to SR9.521 billion for the same period of last year, presenting a growth of 21 percent. Operating profit for Q3 amounted to SR1.187 billion as compared to SR862 million for the same quarter of last year, presenting a growth of 38 percent. Earnings per share (EPS) for the first nine months of the year amounted to SR3.93 as compared to SR2.80 for the same period of last year. The EBIDTA margin for Q3 amounted to 41.3 percent as compared to 36.4 percent for the same period of last year, and compared to 34.9 percent for Q2 2010.

A growing contribution from higher margin broadband revenues, lower international interconnection costs as a result of carefully designed promotional activities and lower direct costs associates with other services revenues were mainly behind the growth in Q3 net profit.

Mobily’s Chairman Abdulaziz Alsaghyir said: “With a strong balance sheet, Mobily can afford to continue to invest in the expansion of its mobile and fixed broadband networks, thereby meeting the needs of increasing capacities, and continuing to grow. We expect data’s contribution to Mobily’s revenues to continue to grow and surpass 20 percent in 2011. Mobily covers more than 92 percent of all populated areas with broadband reaching 587 cities, towns, areas and highways, among them major tourist destinations in the Kingdom.”

The chairman added that Mobily won a contract from the Communication and Information Technology Commission (CITC) under the umbrella of the Universal Service Fund to provide voice and broadband services to residents of the governorates of Khulais and Al Kamel in the Makkah Region, and governorate of Mahd Al Dahab in the Madinah Region.

“Mobily is preparing for the Haj season and our accumulated experience in this field will allow us to provide distinguished performance. Last year, Mobily had a large share of the Haj pilgrim market,” Alsaghyir said, adding that the company had launched the iPhone 4 with different bundles to meet the needs of current customers and to attract new ones, and that demand for the device had exceeded expectations. Among other products, the company plans on launching its Digital Kiosk, the first of its kind in the Kingdom and the Middle East region. The Digital Kiosk has a large library of digital content stored, which can be downloaded to a variety of devices and smart phones, with the option of allowing customers to view segments of the content before deciding to buy it.