Etihad Etisalat Co. (Mobily) will likely make a comeback and turn to a SAR 1 billion to SAR 1.5 billion profit by the year’s end, Hesham Abo Jamee, Alistithmar Capital’s chief executive officer has told Al Arabiya.
He predicts stronger cash flows will translate into higher earnings over the next few quarters.
On the other hand, Abo Jamee says it will be at least four years before Mobile Telecommunications Co. (Zain Saudi) returns to profitability, due to its market techniques and lower prices.
Falling behind estimates, Mobily lost SAR 199 million during first quarter of the year, while Zain Saudi posted a SAR 257 million loss during the period.
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