Omantel reports 9% net profit increase

Domestic customer base has grown by 6.8%
Omantel, Profit. benefits. revenue, Results

Share

Omantel has revealed its preliminary financial results for the period ended 30th June 2014, recording an increase in net profit of 9%.

The company’s revenue has reached RO238.6 million ($619m) as of 30th June 2014 compared to RO239.3 of the corresponding period of 2013, while the net profit has reached RO66 million compared to RO60.5 million in 2013.

Omantel domestic customer base has grown by 6.8% while the Group customer base has also grown by 5.5% year on year.

Commenting on the results, Omantel chief executive officer, Talal bin Said Al Mamari said: “Omantel has continued to see a steady growth especially in the net profit despite the decline of revenue from some services, which has been offset by the growth of mobile and fixed broadband services”.

“We are pleased with the results the Company achieved during the first half of 2014 that have seen our mobile and fixed broadband customer base growing at very good pace contributing to the overall net profit growth," Al Mamari added. 

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