"Revenues from domestic operations during the year 2013 increased 3.2 percent as a result of growth in revenues from business sector and broadband (fixed and wireless) services," said Abdulaziz Alsugair, STC Group's chairman and managing director.
"Revenues from the controlled international subsidiaries grew 21 percent compared to previous year," he was quoted as saying in the company press release.

"STC continued to grow its operations, domestically and internationally," he said.
According to the statement, operating profit increased 44 percent during the fourth quarter of 2013.
Revenues for the 12 months reached SR45.60 billion, an increase of 2 percent compared to the previous year after adjusting the comparable numbers.
Gross profit for the 12 months reached SR27.41 billion, an increase of 9 percent compared to the previous year after adjusting the comparable numbers.

Operating profit for the 12 months reached SR11.04 billion, an increase of 13 percent compared to the previous year.
The statement also said that EBITDA for the fourth quarter amounted to SR4.50 billion, an increase of 25 percent compared to the same period last year after adjusting the comparable numbers. For the 12 months, it amounted to SR17.42 billion, an increase of 8.3 percent compared to the previous year.
The press release said wireless broadband revenues increased 80 percent in 2013 compared to the previous year.
Revenues for the 12 months reached SR45.60 billion, an increase of 2 percent compared to the previous year after adjusting the comparable numbers.

Gross profit for the 12 months reached SR27.41 billion, an increase of 9 percent compared to the previous year after adjusting the comparable numbers.
The press release said operating profit for the 12 months reached SR11.04 billion, an increase of 13 percent compared to the previous year.
After adjusting all comparable numbers, net profit for the fourth quarter reached SR3.62 billion, an increase of 822 percent compared to the corresponding period last year, and an increase of 7 percent compared to the immediately prior quarter.
For the 12 months, net profit amounted to SR9.99 billion compared to SR7.28 billion during the previous year, an increase of 37 percent.
These financial results for the period has lead the board of directors to recommend the distribution of a total of SR1.50 billion in cash dividend for Q4, 2013, representing SR0.75 per share.

Commenting on the results, Abdulaziz Alsugair added: "The strong financial results reflect the efforts being made to constantly evolve, improve and develop the company's strategy and operations both domestically and internationally."
He added: "We continue to maintain an acute focus on reinforcing our presence in our home market and make all resources available in order to capture share of this growth. At the same time, we continue to rationalize STC international portfolio, and evaluate options for some of these investments in order to take appropriate actions in the best interest of the shareholders."
Internationally, the strong performance of VIVA Bahrain & VIVA Kuwait continues and both these operations delivered above target results.
As announced previously, STC has signed an Sale and Purchase Agreement (SPA) to sell its stake in Axis to PT XL Axiata Tbk.
The completion of the transaction remains subject to the applicable Indonesian regulatory approvals as well as the approval of XL shareholders' at its extraordinary general meeting.

Domestically, STC continues with the introduction of innovative and value added services that encourage mobile usage and targeted packages bundled with advanced smart phones.
This is underpinned by the company's customer-centric approach and its efforts to enhance the overall customers experience.
The company, continued increasing the coverage of 3G & 3.5G networks to reach various parts of the country covering more than 96 percent of populated areas and deployment of the 4G network. As a result, the wireless broadband revenues grew more than 200 percent during the fourth quarter compared to the same period last year and grew 80 percent during 2013 compared to the previous year.
STC's fiber optic network (homes and businesses) reached more than 830,000 sites with an increase of 88 percent during the fourth quarter compared to same period last year, and 12 percent compared to the previous quarter.

The ongoing network expansion has also led to a further increase of 32 percent in the number of "InVISION" subscribers (STC's Interactive TV service) during the fourth quarter compared to same period last year.
The number of subscribers in bundled services grew by 4 percent during the fourth quarter compared to same period last year.
Enterprise business unit overall revenues increased 11 percent during the fourth quarter compared to same period last year, driven by the 20 percent increase in Business sector data services revenues, and 10 percent increase in the fixed line revenues during Q4 compared to same period last year, according to the press release.
For the 12 months, business sector data services revenues increased 18 percent compared to the previous year, attributed mainly to the 27 percent increase in government sales and in 20 percent increase in key accounts sales during the year compared to the previous year.