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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Etihad Atheeb 9M profit $47m

Net profit for the same period a year ago was SAR 13 million. (Go Telecom)
  • Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
  • On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.

Riyadh, Saudi Arabia — Etihad Atheeb Telecommunication Co. recorded a net profit of SAR 176.5 million ($47 million) in the nine-month period ended on 31 Dec 2023, compared with SAR 13 million in the year-ago period.

The profit growth was boosted by higher revenues from the individual, business, and wholesale segments compared with the year-earlier period, Argaam reported.

This was also due to an increase in other income, as well as lower selling and marketing expenses. In addition, allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.

The company’s net profit for the third quarter was SAR 76.1 million, compared with SAR 8 million a year ago, due to higher revenues, increased other income, as well as lower selling and marketing expenses.

This was despite an increase in the cost of services, general & administrative expenses, FCs, and the allowance for impairment in trade receivables.

On a quarterly basis, the telecom operator’s third quarter leapt from SAR 47.9 million in Q2 2023/24.

Shareholders’ equity, no minority interest, at the end of the nine-month period amounted to SAR 292.62 million, compared to SAR 86.96 million a year earlier.