Mobily revises profit down for several reporting periods

Mobily amended its financial results for quarters in 2013 and 2014, revising down its revenues, profit and shareholders’ equity.

1. Revenue: Mobily’s revenue for the third quarter and first nine months of 2013, and first and second quarters of 2014, were drastically reduced. The reductions culminated to SAR 2.212 billion in the second quarter of 2014.

2. Gross Profit: Mobily’s gross profit for the same periods was cut down either, primarily by SAR 925 million in the second quarter of 2014.

3. Net Profit: The company’s net profit for the third quarter, first nine months of 2013, and second quarter of 2014—was revised downward by SAR 55 million, SAR 393 million and SAR 900 million respectively. However, the net profit of the first quarter of 2014 rose by SAR 212 million from earlier figures.

4. Shareholders’ Equity: The reductions impacted shareholders’ equity, which went down to SAR 23.322 million in the second quarter 2014, i.e. SAR 1.427 million lower than earlier figures.