Yemen Mobile Company announces highest percentage of profits at 40 percent distribution

Yemen Mobile Company announced today,Saturday, the distribution of its profits for the past year to shareholders at the rate of 40 percent of the nominal value of the share, which is the highest percentage of profits in Yemen. At the company's general assembly meeting, the caretaker Minister of Communications and Information Technology, Engineer Misfer Al-Numair, praised the company's efforts in developing its services to subscribers and constantly updating its technologies in accordance with the latest systems in the world of communications. He pointed out that the company is achieving increasing growth that enhances its leadership in the telecommunications market. He expressed his thanks to the company's board of directors, executive management and the company's cadres for their tireless efforts to maintain leadership with distinction and creativity. While the Chairman of the Board of Directors of Yemen Mobile Company, Issam Al-Hamli, explained that despite the difficulties it faced with the continued ag gression and siege, targeting and bombing of the company's sites and stations, the high prices of production inputs, and the high costs of collecting revenues from the provinces, the company was able to overcome all of this, achieving outstanding results. He pointed out that the company completed the project to modernize and develop its systems, which was implemented by contracting with the German consulting company "Detcon", in accordance with international best practices. Al-Hamli stated that the company's market share rose to 55 percent, bringing the number of subscribers to the company's services to 12 million. He pointed out that the company achieved revenues last year amounting to 249 billion riyals, with a growth rate of 17.54 percent over the previous year. In the meeting, which was attended by the Undersecretary of the Ministry of Communications for Financial and Administrative Affairs, Ahmed Al-Mutawakkil, the Executive General Director of the General Telecommunications Corporation, Engineer Sadi q Musleh, and the CEO of the Yemen International Telecommunications Company (TeleYemen), Dr. Ali Nasari, the representative of the Ministry of Industry and Trade announced that a quorum was complete for the major shareholders in the company, and the approval of the Distribution of profits proposed by the Board of Directors in accordance with the law. Source: Yemen News Agency