Omantel profits up in Q1

Oman telco sees profits up after reducing expenses
Omantel sees profits rise after reducing expenses.
Omantel sees profits rise after reducing expenses.
Omantel sees profits rise after reducing expenses.
Omantel sees profits rise after reducing expenses.

Share

Oman Telecommunications has reported a 13% increase in profits for the first quarter.

Net income was up to OR29.1 million ($75.6m) from OR 25.8m ($67m) in the same quarter last year.

Net revenue was actually down 0.4% at Omantel, to OR111.1m ($288.6m), but the operator cut expenses by 3.6% to OR 79.6m ($206.7m).

Amer Al Rawas, CEO of Omantel said at a press conference: "In 2011, we invested OR84mn in capital investments on the network. In 2012, it will be about the same. We are trying to keep it to 20% of revenue."

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story