Orange Jordan's profit up in Q1

Jordanian telco sees revenues decline by 3% in first quarter
Orange Jordan said revenues declined owing to tough economic conditions.
Orange Jordan said revenues declined owing to tough economic conditions.

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Jordan’s incumbent operator, Orange Jordan, managed to increase its net profit to JD 20 million ($28.2m) at end of March 2012, a rise of 2.5% compared to the same period last year.

The increase in profit came despite a slight decline in the telco’s revenues over the same period. The operator posted revenues of JD 96.4 million, down 3% compared to its revenues of JD 99.3 million in Q1 2011.

The drop in revenue was caused by tough competition in the market and the “stressing” economic situation in the region, Orange Jordan said.

Orange Jordan’s subscriber base grew 3.9%, reaching 3.68 million subscribers at the end of March 2012 compared to 3.55 million subscribers at end 2011. Orange attributed this increase to special offers that helped it grow its ADSL, mobile and 3G subscriber base.

The telco’s operating expenses before depreciation and amortisation saw a decrease by 5.6% to reach JD 58.3 million as end of March 2012 against JD 61.8 million as end of March 2011.

EBITDA for the group increased slightly by 1.4 %, to reach JD 38.1 million as end of March 2012, as a result of the decrease in the operating expenses. EBITDA margin improved by 1.7 points to reach 39.5% in Q1 2012 compared with 37.8% in Q1 2011.

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