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Yemen Mobile Distribute Profits among Shareholders
  Written By:  (YEMEN POST STAFF) 
  Article Date:
September 01, 2008



The final statement of Yemen Mobile Company, one of the leading operators of mobile telecommunications services through CDMA system, showed record rises in its net profits over the last year.

According to its annual report, the company’s profits increased markedly in 2007 to reach YR 9.3 billion, against YR 1.3 billion achieved in the previous year. Such an increase was achieved after the company was turned into a joint stock company.

Yemen Mobile’s distributable profits mounted to YR 8.2 billion after setting aside the legal reserve, added the same report.

The report further indicated that the basic profit per share was YR 108.40 in 2007, instead of YR 15.97 during the previous year.  

At the meantime, the company’s authorized and paid-up capital reached YR 43.26 billion, divided into YR 86.524 million at a total value of YR 500 per share.

Yemen Mobile started its commercial operations on September 22, 2004. Though it was the third established mobile company in Yemen, the company managed well to rival former companies and currently has over 1,000,000 subscribers. It also has over 400 BTS stations that allow the company to provide coverage across the republic.