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STC profits hit by impairment charges
2013-01-21 11:06:00| Telecompaper Headlines
(Telecompaper) Saudi Telecom Company (STC) reported a 6.7 percent increase in revenues for 2012, to SAR 59.37 billion. The increase in revenues was attributed to growth in broadband (fixed & mobile), the business segment and wholesales services. Net income amounted to SAR 7.35 billion, down 4.9 percent from 2011. This was due to charges in Q4 to write down the value of investments in Cell C in South Africa and Aircel in India. As a result of the impairment charges of SAR 641 million and STC's share of extra regulatory fees for Aircel of SAR 544 million, net profit in the fourth quarter fell 79 percent to SAR 468 million. Excluding the charges, STC said net income would have been SAR 8.54 billion for the year, an increase of 10.4 percent compared to 2011. The board recommended the distribution of SAR 1.0 billion in cash dividends for Q4 2012, equal to SAR 0.5 per share. STC's total domestic mobile customer base increased 9.3 percent compared to Q4 2011 and 2.6 percent compared to Q3 2012. The fibre-optic network reached over 500,000 homes passed by year-end and counted more than 100,000 connected customers.
Tags: hit
charges
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impairment
Huawei grows revenues 8%, profits 33% in 2012
2013-01-21 09:37:00| Telecompaper Headlines
(Telecompaper) Huawei expects its revenues to have risen by 8 percent to CNY 220.2 billion and its net profit by 33 percent to CNY 15.4 billion in 2012, announced group CFO Cathy Meng. Around 70 percent of revenue was generated from leading telecom operators, including 45 of the world's top 50. The carrier network business had CNY 160.3 billion of sales, the consumer business CNY 48.4 billion with continued growth in Europe and Japan, and the enterprise business CNY 11.5 billion. International markets accounted for 66 percent of group revenue last year. The company invested CNY 29.9 billion in R&D last year, or over 13 percent of revenue. The 2012 results audited by KPMG will be outlined in Huawei's annual report in April. Huawei projects that it will increase its revenue by 10-12 percent in 2013.
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profits
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Wipro profits up 18%, beating forecasts [Khaleej Times (United Arab Emirates)]
2013-01-20 13:06:44| IT Services - Topix.net
Via Acquire Media NewsEdge) India's third-largest software firm Wipro said that net profit in the third quarter rose a surprise 18 percent, thanks to new outsourcing orders despite global uncertainty.
Tags: times
united
arab
profits
GE profits on industrial rebound
2013-01-18 17:07:52| BBC News | Business | UK Edition
General Electric sees a 9% rise in profits as demand for the giant US conglomerate's industrial equipment from developing countries surges.
Tags: industrial
profits
rebound
AUDIO: Chip make Intel sees profits slump
2013-01-18 11:54:59| BBC News | Business | UK Edition
The world's biggest maker of silicon chips, Intel, which grew by putting chips most of the world's personal computers, is now facing an erosion of that market.
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