Sudatel group scores $47 million in profits for 2016

Gross profit rises 18% though earnings per share decreases to $0.0388
Eng. Tarig Hamza Zainelabdin, CEO of Sudatel
Eng. Tarig Hamza Zainelabdin, CEO of Sudatel

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Sudatel telecom group ended the year 2016 with a net profit of $47 million and 11,7 million subscribers.  The general meeting on 20 May 2017 has approved the board of directors’ report for the financial year ended 31 December 2016. The subscriber base increased 2.5% YoY while revenues from operations increased 9% YoY to reach $476 million in 2016. 

Gross profit increased 18% YoY from $155 million in 2015 to $183 million in 2016. However, increase in taxes in Sudan led to a drop in net profits. That in turn led to a decrease in earnings per share, which dropped from $0.0426 per share in 2015 to $0.0388 in 2016. 

Eng. Tarig Hamza Zainelabdin, CEO of Sudatel said: "The achievements were made possible by a number of factors including the commencement of the implementation of our long-term strategic business plan, implementation of effective sales and marketing strategies, fine-tuning of our business model and network work expansion and optimisation."

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