stc recently shared company’s preliminary financial results for the first half of 2024.
Revenues for the six-month period of 2024 reached SR38,255m with an increase of 4.79 percent as compared to the comparable period last year. The growth of revenues was mainly attributed to the increase in stc KSA’s revenues by 0.6 percent driven by an increase in commercial unit revenues by 6.0 percent, carriers and wholesale unit revenues by 0.2 percent. Furthermore, stc’s subsidiaries revenues also increased by 13.4 percent.
 Gross profit for the six-month period of 2024 reached to SR18,957m with an increase of 3.88 percent as compared to the comparable period last year. Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the six months period of 2024 reached to SR12,889m with an increase of 5.96 percent as compared to the comparable period last year.
Net profit for the six-month period of 2024 reached to SR6,590m with an increase of 7.73 percent as compared to the comparable period last year.
 stc distributes SR0.40 per share for the second quarter of 2024, in accordance with the dividends distribution policy approved by General Assembly.
 Commenting on the results, Olayan bin Mohammed Alwetaid, stc group’s CEO, commended the efforts made by the group through its various sectors and subsidiaries in strengthening the group’s position in a competitive market, which were achieved due to the group’s commitment to achieving its “Dare 2.0” strategy, resulting in a strong financial performance during the first six months of this year.
The comprehensive cost efficiency program adopted by the group also played a prominent role in improving profit margins through enhanced operational efficiency and cost control, which strengthened the company’s financial position and its ability to seize available opportunities and continue investing in the digital infrastructure, which will cement stc group’s position as the leading digital enabler in the Kingdom.
The group’s CEO also praised the efforts made by the Kingdom to provide the best services and facilities for pilgrims and improve their experience during the Hajj season.
The group’s commitment to utilizing its technical expertise has ensured the comfort and safety of the pilgrims. This included providing high-speed internet access for 1.8 million stc network users in the holy sites, as well as a 65 percent increase in voice call volume compared to the previous Hajj season.

Global skincare leader NIVEA celebrated the launch of its revolutionary Body Luminous630 Even Skin Tone range in Saudi Arabia. This innovative product empowers Saudi women to embrace their radiant confidence by addressing a common concern — uneven skin tone and stretch marks.

The launch event took place on July 8 in Riyadh. It brought together a gathering of celebrated beauty insiders, influencers like Lojain Omran and Noha Nabil, celebrities, and international entertainment acts. The NIVEA team kicked off the event by sharing their brand heritage and future vision, culminating in the much-anticipated reveal of the NIVEA Body Luminous630 Even Skin Tone range.

Guests were welcomed into a vibrant pre-function area filled with interactive activities and captivating mirror art installations, setting the stage for a truly unique experience. Renowned DJ and violinist Andre Soueid took the stage after that, electrifying the ambiance even further. Guests also enjoyed a live stream screening of the “Boulevard Takeover,” capturing the launch’s real-time excitement.

A thought-provoking discussion panel followed, featuring a lively exchange between skincare expert Dr. Yasmin El-Masri and media personality Suha Nowailaty. Dr. El-Masri, a renowned dermatologist, shared valuable skincare insights, while Nowailaty brought her deep understanding of the multifaceted lives of Saudi women. The speakers engaged in a dynamic conversation about the importance of feeling confident in your skin and explored the latest trends and approaches to achieving an even skin tone. Through partnerships with influential figures like these, NIVEA continues to inspire and nurture the growing confidence of Saudi women.

“We are thrilled to introduce the NIVEA Body Luminous630 range to the Saudi Arabian market,” said Alia Lotfy, head of marketing at NIVEA MENA. “Uneven skin tone is a common concern for many people in the region, and this range offers a powerful and effective way to achieve a radiant, even-looking complexion.”

Following a decade of research, NIVEA developed the patented Luminous630 enzyme. This breakthrough ingredient regulates melanin production and reduces the visibility of dark spots, making it the world’s most effective solution for even skin tone. The NIVEA Body Luminous630 Even Skin Tone range, available in oil serum and cream formats, offers a clinically proven solution for achieving a visibly even skin tone and stretch marks reduction.