Brand Finance: STC is the Most Valuable Brand in the Middle East
Brand Finance announced an 11% increase in STC’s brand value from 2016 to become US $ 6.2 billion. With this increase, STC has now become the most valuable brand in Saudi Arabia and in the Middle East.
Brand Finance CEO David Haigh commented on this increase saying that “STC is embarking down a path of ‘humanisation’ re-engaging its many stakeholders with a fresh, personable outlook. A clear indication of its success in this regard is a 5 point increase in its brand strength index score, reflecting improving customer perceptions on metrics such as consideration, preference and satisfaction. The financial value of its strategy is even more apparent however; STC’s brand value has risen 11% to US$6.2 billion. This means that it is now not just the most valuable brand in Saudi Arabia, but across the entire Middle East. A major coup for both STC itself but also for Saudi Arabia, which can now lay claim to the top spot in the region after years’ of dominance by Emirates.”
Dr. Khaled H. Biyari, STC Group CEO, stated that "this growth reflects the stature achieved by the customers, shareholders and the reason millions of customers around the world have placed their trust in STC as their telecommunications service provider. The 11% increase in brand value will reflect positively on the future economic value for the group showing the company's commitment to its customers through continuous development of the business, products, services and innovative solutions in the telecommunications sector."
Brand Finance is the world’s leading independent branded business valuation and strategy consultancy. Headquartered in the City of London and present in over 20 countries. STC ranked number one based on a number of quantifiable attributes, such as the company’s financial performance and sustainability, as well as customers loyalty.
Feb 02, 2017 12:00:00 AM Asia/Riyadh
Revenues from domestic operations during the year grew 2.4% compared to last year
Consolidated revenues for the year reached SR 51,845m, an increase of 2.4% compared to last year
Bundled services customer base during the 4th quarter increased 19% compared to the same quarter last year, and an increase of 11% compared to the immediate prior quarter
Enterprise business unit overall revenues increased approximately 19% during the 4th quarter compared to the same quarter last year
In accordance with the approved dividend policy for three years starting from the 4th quarter 2015 which was announced on 11 November 2015, and have been ratified during the General Assembly Meeting on April 4th 2016, STC will distribute a total of SR 2,000 million in cash dividend for Q4 2016, representing SR 1 per share.Commenting on the results, STC Group CEO, Dr. Khaled H. Biyari, stated: stated: “The 2.4% increase in Consolidated revenue for the 12 months period compared to last year, confirms that STC strategy is working well despite all the challenges and circumstances facing the communications sector and overall economic conditions. While, the decline in Net Profit for the 12 months period is mainly attributed to the increase in cost of services during the period which included significant costs resulting from the fingerprint authentication process for millions of customers and documented among relevant government agencies during the first half of the year, and due to STC investments in software’s and systems related to cloud computing and managed data services mainly during the 1st half. Also, during the twelve months period, STC invested in programs and initiatives that will have positive outcomes in the near future, such as Early retirement program. I would like to stress that the company will continue its investment in advanced networks and new technologies in order to reach the highest levels of customer satisfaction and enrich our customers’ experience.”
Dr. Biyari also stated “that STC vision for the year 2020 is to transform to a digital company that provide innovative services to its customers. The country is now living the beginning of transformation to the digital economy, and the company is capable to work with all government sectors and the private sector towards the dissemination of broadband services and the corresponding platforms like cloud computing platforms and the Internet of things as per NTP 2020 and 2030 Kingdom vision. Assuring the current need for high speed data services, especially fiber optic network-supported, so that the period ahead for the telecommunications world will see overlaps with many sectors, for example in health and education sectors to enhance the efficiency of the services provided to clients.”
Domestically, STC’s continues with the deployment of 4G network in all districts of the country, and continued with deploying the fiber optic network in the country to serve the business sector. In addition, bundled services customer base during the 4th quarter increased 19% compared to the same period last year, and 11% compared to the immediate prior quarter.
Enterprise business unit overall revenues increased approximately 19% during the 4th quarter compared to the same period last year, driven mainly by the 16% increase in Business sector data services revenues compared to same period last year, and also due to the offering of cloud computing & managed data services which started during the year.
Jan 19, 2017 12:00:00 AM Asia/RiyadhDr. Abdullah Bin Hasan Alabdulqader is the STC’s Chairman of the Board of Directors
Saudi Telecom Company (STC) announced Dr. Abdullah Bin Hasan Alabdulqader as the STC's Chairman of the Board of Directors during the first meeting in its sixth session that been held on the evening of Monday, 15/7/1436 H corresponding to 04/05/2015 AD, and naming the Sub-committee depending on the functions and the approved authorities.
It is worth mentioning that Dr. Abdullah bin Hassan Alabdulqader is a member of number of other boards of directories and commissions. He is a head of Advisory Committee in the Capital Market Authority, and a member of Quality of Assurance Committee in the Organization for Certified Public Accountants. Dr. Alabdulqader worked as a professor at King Fahd University of Petroleum and Minerals, and was a member first Council administration of STC, and was a member of the first board of the Capital Market Authority, and Dr.Alabdulqader holds a Bachelor and Master of Business administration from King Fahd University of Petroleum and Minerals, and a PhD from the University of Colorado, USA.
May 05, 2015 12:00:00 AM Asia/RiyadhSTC Participates in World Autism Awareness Day
Keen on supporting all members of the Saudi society, STC has participated in the World Autism Awareness Day, which took place at the Intellectual Education Institute (Alfekryah) in Taif.
Guests included high-ranking representatives of both private and public sectors in Taif, such as Deputy Governor Ahmad Al Thamiry and the General Manager of Education in Taif, Mohammed Al Shimrani.
Commanding our company for effectively participating in the World Autism Awareness Day, Al Thamiry presented an honorary plaque STC, while Al Shimrani praised the telecom giant for constantly seeking to empower children with special needs across the Kingdom.
Apr 16, 2015 12:00:00 AM Asia/Riyadh
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