JEDDAH: Mobily, Saudi Arabia's second-largest telecoms operator, posted an above-forecast 39 percent rise in fourth-quarter net profit on higher use of services and more broadband subscribers. The company, also known as Etihad Etisalat, said net profit in the quarter reached SR1.46 billion ($389.1 million), up from 1.05 billion a year earlier, according to a statement posted on the bourse website. Mobily said in a separate statement it plans to pay a dividend of SR2 for 2010. The firm made revenue of SR16.01 billion in the fourth quarter compared with SR13.05 billion in 2009, because of higher utilization rates, it said. Broadband users exceeded 2.3 million, Mobily said without providing a comparative figure. Net profit for the full-year surged 40 percent to SR4.21 billion, Mobily said. Mobily benefits from its affiliation with Emirates Telecommunications, its biggest shareholder with a 27.4 percent stake, which grants it cost-competitive access to networks partially or wholly owned by the UAE
