Riyadh - Mubasher: Etihad Etisalat Company (Mobily) posted losses of SAR 189.7 million in the second quarter of the year versus profits of SAR 3.2 million for the same period in the previous year, according to a bourse filing.

The company’s financial statement showed that revenues went down by 13% to SAR 2.9 billion compared to SAR 3.3 billion in Q2-16.

NBC attributed the decline in revenues to the erosion of the base in 2016 as a result of the pressure on sales driven by the finger print process, which was implemented last year.

Losses amounted to SAR 352.8 million in the first half of 2017 against profits of SAR 22.9 million in H1-16, the statement noted, due to the pressure on sales driven by the finger print process, as well as the reduction of the interconnection rates since April of the year before.