Vodafone Qatar Q4 net loss widens

Mobile customer grow 9% to 1.44 million by 31 March of 2015
Kyle Whitehill, CEO of Vodafone Qatar.
Kyle Whitehill, CEO of Vodafone Qatar.

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Vodafone Qatar reported a wider fourth-quarter loss.

The company made a net loss of 66 million riyals ($18.1 million) in the three months to March 31, according to Reuters calculations based on company statements.

That compares with a loss of 33 million riyals in the prior-year period.

Vodafone Qatar, 23% owned by parent Vodafone and 22% by a Qatar government-linked fund, made a loss of 216 million riyals in the 12 months to March 31, versus a loss of 246 million riyals in the prior-year period, according to a statement to Doha's bourse.

The company did not provide further details.

The firm's financial year starts on April 1.

Mobile customer grow 9% to 1.44 million by 31 March of 2015, according to the company.

 

H.E Sheikh Dr Khalid Bin Thani Al Thani, chairman of Vodafone Qatar, said: “This year was once again defined by solid results, underpinned by a 9% growth in our customer base to 1.44 million. This performance helped deliver 16% growth in our revenues to QR 2.31 billion and maintain stable EBITDA margin of 25% in challenging market conditions. As such, the board recommends a dividend payment to its shareholders of QR 0.21, marking a growth of 24% on our maiden dividend distributed last year.”

“Our enterprise offering and services have significantly grown with many notable new customers joining Vodafone. On the consumer side, we continued to take great strides in the postpaid segment through successful and differentiated targeted propositions, specifically with Vodafone’s Red plans. We also launched Falla, an updated youth offer and focused on sustaining our prepaid position against aggressive competition by always giving customers the best value available in Qatar. Moreover, leveraging Vodafone Group plc’s unparalleled global footprint, we continued to lead in the roaming space with Qatar’s best roaming rates and the widest 4G roaming coverage,” he added.

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