Mobilis net profit jumps 2 fold to over $12bn in 2012

Mobile phone operator Mobilis recorded in 2012 a net profit of more than DZD12 billion (over USD160 million) in 2012, a two-fold increase compared with 2011, its CEO Saad Damma said Wednesday. \"It’s the best performance of the company since its creation,\" Damma told APS. In 2012, Mobilis increased its investments four-fold, bringing them to more than USD300 million (DZD22 billion), against USD75 million in 2011, he added. The company has implemented a plan to modernize and densify its technical network, to run until 2016, with a budget of two billion dollars. The turnover of Mobilise rose by 11.4% to DZD59 billion, while the return rate stood at 28%, a rate in accordance with standards of successful operators.