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.

Share

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.

Editor's Choice

Bahrain tops London and Silicon Valley for percentage of female startup founders - new report
Said to be among top 10 startup ecosystems with the largest share of female founders.
From the mag: Inside O2O2’s quest for fresher air with fashionable face masks
O2O2 isn’t just a face mask that’s been hitting the runways at Fashion Weeks worldwide. It’s also tackling the problem of polluted air at its source. Is there anything apps and mobile networks can’t do?

Most popular

Don't Miss a Story