Omantel's profit surges 11.8% in H1

Telco bucks trend with increased profits and revenues
Oman's incumbent telco improved its performance in the first half of 2012.
Oman's incumbent telco improved its performance in the first half of 2012.

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Oman’s incumbent telecom operator, Omantel, posted solid first half results, with a net profit of RO 61.2 million ($159m), an increase of 11.8% compared to the same period last year.

The telco posted group revenue of RO 234.5 for the first half of 2012, an increase of 5% compared to the same period in 2011.

Both service revenues and wholesale revenues recorded a growth of 4.2% and 8.4% respectively. The increase in wholesale revenue was mainly driven by an increase in external administration revenues and revenue from capacity sales.

Group operating expenses increased by 1.8% to RO 167.02 million compared to RO 164.01 million for the corresponding period of year 2011. The major reasons for increase in operating expenses are increase in operating and maintenance cost, employee cost, external administration and interconnection costs.

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