Sudatel reported its strongest earnings in five years announcing net profits of $50 million, a 67% increase from the Group’s 2013 earnings. The Group posted robust financial results with the earnings per share increasing from 0.150 cent in 2013 to 0.424 cent in 2014 marking a record increase of over 182%. The owner’s equity increased by 28% from $418 million to $535 million in 2014 and the assets value jumped from $1.188 billion in 2013 to $1.24 billion in 2014.
“The growth will continue, during the first three months of 2015 we reported around $10 million net profit. The strongest driver of the revenue is still voice. Voice contributed to 78% of the total revenue, but definitely Sudatel is going to a complete transformation. Strategically, by 2020 our income from broadband will be over 50%,” Eng. Tarig Hamza Zain El Abdein, chief executive officer of Sudatel Group said to CommsMEA.
The company participated in the UAE-Sudan Investment forum in cooperation with the Sudanese Ministry of Investment Businessmen and dignitaries from both the UAE and Sudan explored investment and trade opportunities between the two countries. Sudatel CEO reported that both countries signed agreements related to the agriculture sector and he expects new investors for the company.
“Sudatel has been one of the strongest trading stocks on the Abu Dhabi Stock market over the past 10 years. With today’s announcement, we are certain it will bolster the confidence of local potential investors in Sudatel and will demonstrate the growth possibilities of investing in and trading with Sudatel,” added Zain El Abdein.