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DUBAI, July 30 (Reuters) - Saudi Arabia's Etihad Etisalat (Mobily) on Thursday revised 27 months of earnings, cutting its 2013 profit and widening its 2014 loss, although its loss in the first quarter of 2015 lessened.
The telecom operator has been embroiled in an earnings scandal since last November when it shocked investors by restating 18 months of earnings that it blamed on accounting errors and Thursday's announcement is the latest adjustments to its accounts following a regulator probe.
Mobily has cut its 2013 net profit to 4.69 billion riyals ($1.25 billion) from 5.94 billion riyals, according to a bourse filing.
It also widened its 2014 loss to 1.58 billion riyals versus 913 million riyals, although its first-quarter loss has been reduced to 45 million riyals from 199 million riyals.
($1 = 3.7501 riyals)
(Reporting by Matt Smith; Editing by Olzhas Auyezov) ((matt.smith1@thomsonreuters.com; 00971506354039; Reuters Messaging: matt.smith1.thomsonreuters.com@reuters.net))
The telecom operator has been embroiled in an earnings scandal since last November when it shocked investors by restating 18 months of earnings that it blamed on accounting errors and Thursday's announcement is the latest adjustments to its accounts following a regulator probe.
Mobily has cut its 2013 net profit to 4.69 billion riyals ($1.25 billion) from 5.94 billion riyals, according to a bourse filing.
It also widened its 2014 loss to 1.58 billion riyals versus 913 million riyals, although its first-quarter loss has been reduced to 45 million riyals from 199 million riyals.
($1 = 3.7501 riyals)
(Reporting by Matt Smith; Editing by Olzhas Auyezov) ((matt.smith1@thomsonreuters.com; 00971506354039; Reuters Messaging: matt.smith1.thomsonreuters.com@reuters.net))
