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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Mobily 9M 2023 profit up 41%

Mobily Pay, a wholly owned subsidiary of Etihad Etisalat Co. (Mobily), provides e-wallet payment services in Saudi Arabia. (SPA)
  • Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.
  • Reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million.

Riyadh, Saudi Arabia — Etihad Etisalat Company (Mobily) has reported a net profit of SAR 1.48 billion ($394 billion) for first nine months of 2023, an increase of 41 percent from SAR 1.05 billion in the same period last year.

The company said its revenues for the period grew by 7.5 percent year-on-year (YoY) to SAR 12.4 billion, supported by all segments, mainly the business segment, with a healthy growth in the overall subscriber base, Argaam reported.

Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.

Meanwhile, reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million, Argaam said.

Q3 2023 net profit surged 40 percent YoY to SAR 524 million, as revenue rose 7.1 percent YoY and gross profit was up 2.7 percent YoY.

On a sequential basis, Q3 earnings grew 5.4 percent. Total shareholders’ equity, no minority interest, stood at SAR 16.91 billion by the end of 9M 2023, compared to SAR 15.70 billion in the year-earlier period.