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| 23 May, 2018

Saudi CITC posts $1.44bln surplus in 2017

The fresh frequencies are expected to boost the internet speeds with more than 60% via mobile networks.

Image used for illustrative purpose.
A Yemeni vendor displays mobile phones at a shop in Riyadh, Saudi Arabia March 21, 2016.

Image used for illustrative purpose. A Yemeni vendor displays mobile phones at a shop in Riyadh, Saudi Arabia March 21, 2016.

REUTERS/Faisal Al Nasser

Riyadh –  Saudi Communications and Information Technology Commission's (CITC) surplus decreased 1.4% to SAR 5.3 billion in 2017, compared to SAR 5.37 billion a year earlier.

CITC’s revenues amounted to SAR 5.72 billion last year, down from SAR 5.83 billion in the year before, according to its annual report.

The Saudi telecommunications utility reported an 8.9% decline in expenses to SAR 420.11 million in 2017, versus SAR 461.45 million in the prior year.

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The commission employees’ costs tumbled to SAR 229.57 million in the year before, from SAR 266.3 million in 2016.

Revenues of telecommunication providers levelled down 2.3%, reaching SAR 71 billion in 2017.

On the other hand, CITC further noted that about 210 MHz spectral frequencies will be offered in 2018, in addition to 130 MHz in 2019.

The fresh frequencies are expected to boost the internet speeds with more than 60% via mobile networks.

On a side note, Saudisation ratio in the CITC hit 99.52% in 2017, the state-run utility noted.

Source: Mubasher

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