Saudi telecom firm Etihad Atheeb narrows losses to $10m on higher sales

RIYADH: Etihad Atheeb Telecommunication Co. has managed to slightly narrow down its losses by 2 percent in the fiscal year ended March 31, by ramping up its sales.

Better known as Go, the company brought down its losses to SR37.4 million ($10 million) from SR38.26 million reported a year earlier, according to a bourse filing.

Its improved results were accompanied by a 34 percent boost in revenue to SR378.55 million, up from SR282 million in the previous year.