Lower revenues, margins erosion but higher net profit
STC recorded a decrease by 1.6% in its Q2 2017 revenues at SAR13.202bn, taking H1 2017 revenues to SAR26.032bn, down 2.3%, yoy, due to weakened domestic and international performance (vs. a slight increase by 1.1% planned for the whole year). Indeed, STC KSA and Sale Co. witnessed decreasing H1 2017 revenues (-4.9%) at SAR23.354bn. Similarly, revenues coming from Viva Kuwait, Viva Bahrain, Intigral, Bravo and STC Solutions were cut by 4.2% at SAR3.899bn.Saudi Telecom is a telecommunications services company based in Saudi Arabia. Co.'s activities comprise the provision of a variety of telecommunications services which include mobile (2G and 3G), fixed local national and international telephone services, telex, telegraph and data services such as data transmission, leased lines, internet services and e-commerce. Co.'s main operating segments comprise: GSM, for which the main services are: mobile, third generation services, prepaid cards, international roaming and messages; PSTN, main services are: fixed line, card telephones, interconnect and international calls; DATA, main services are: leased data transmission circuits, DSL and internet.
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