Omantel's profits flat in first nine months

Telco sees limited rise in revenues in the nine months to September 30
Omantel

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Oman’s incumbent telecom operator, Omantel, posted a net profit of OMR 89.6 million ($232.6) for the nine months ending September 30, 2013. This marked a slight decline compared to the same period last year, when the telco made a profit of OMR 90 million.

The telco’s revenues reached OMR 351.5 million for the first nine months of the year, a rise of 2.5% compared to the same period in 2012.

Overall domestic revenues achieved a growth of 6.5%. Mobile and fixed-line businesses recorded a growth of 8.7% and 3.9% respectively, while domestic wholesale business grew by 11.8%. Omantel’s domestic customer base grew by 8.5% while the group customer base rose 6% year-on-year. Mobile broadband subscriptions increased 49%.

Dr. Amer Awadh Al Rawas, CEO, Omantel, said: “Despite several challenging conditions in the local and Pakistani markets, Omantel has continued to see a steady growth. We are pleased with the positive results Omantel has made during this period and in particular the growth in our domestic subscriber base especially in mobile broadband and fixed broadband services, thanks to the network modernization and customer experience enhancement initiatives”.

 

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