May 02 2012
|more articles from|
Omantel Net Profit Rises By 13% To R.O 29.1 Million
Muscat, 2nd May 2012: Oman Telecommunications Company S.A.O.G ( Omantel ), the Sultanate's leading telecom company, has announced today its preliminary financial results showing an increase in the net profit after tax by 13% to R.O 29.1 Million despite having a marginal decrease in the revenue by 0.4% to RO 111.1 million from RO 111.5 million in the corresponding period of 2011.
The marginal decline in the revenue figures is mainly attributed to the one-off revenue of RO 9.046 Mn for the capacity sale which happened in Q1 2011. Excluding this one-off Revenue of last year, the group Revenue for this year's quarter recorded a growth of 8.4%. The increase is mainly driven by impressive growth of domestic mobile retail revenues by 10%.
Omantel subscriber base witnessed an impressive growth both in the domestic and group levels. The Company witnessed an increase in the total group customer base (including Worldcall subscribers) by 11% to 3.627 million as of 31st March 2012 compared to 3.258 million on the corresponding period of 2011. Excluding Worldcall subscribers, Omantel 's domestic subscriber base witnessed a remarkable growth of 13% as of 31st March 2012 reaching 2.693 million mainly contributed by its mobile business. Omantel Mobile continued to lead the market with a significant growth in the Company's mobile network's market share to 60%, making Omantel Mobile again the fastest growing mobile operator in the Sultanate for the sixth quarter in a row.
Commenting on these remarkable results, Omantel 's Chief Executive Officer, Dr. Amer Awadh Al Rawas said: "We are proud to see our Company making this impressive growth despite the challenging market conditions and increased competition in the domestic market".
"We are gaining the fruits of having a strategy and operating model that is customer-centric and are very much delighted that all our businesses have contributed in making this success. I would like to thank our loyal customers, visionary Board, committed employees and supportive shareholders who have always been part and in support of Omantel 's journey of transformation" Al Rawas concluded.
Omantel said that these results are preliminary unaudited and are subject to the Audit Committee and Board of Directors approval in their forthcoming meetings which will be held within the statuary period set by Capital Market Authority (CMA).
To find out more about Omantel , log on to www.omantel.om.
For further information, please contact:
Mohamed Al Salmi
Manager PR and Media
Tel: 00 968 24244658
Mobile: 00 968 99879879
© Press Release 2012
© Copyright Zawya. All Rights Reserved.
More in Telecoms & IT
- UPDATE 1-Korean women scrap meeting Japanese mayor over brothel remarks
- REFILE-Elderly Korean women cancel meet with Osaka mayor over war brothel remarks
- Korean "grannies" cancel meet with Osaka mayor over war brothel remarks
- Solar plane completes second leg of cross-country flight in Texas
- College student snares record long Burmese python near Miami
- There's More