Jan 21 2012 |
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Vodafone Qatar narrows nine-month net loss
By CHRIS V PANGANIBAN DOHA: Vodafone Qatar has narrowed down its fiscal nine-month net loss last year to QR359.4m from QR456.8m in the same period in 2010 partly due to a steady increase of its mobile subscribers.The company's total revenues for last year rose to QR906m from QR652m a year earlier indicating a growth of 39 percent while Ebitda or earnings before interest, taxes, depreciation and amortization, was QR102m after a loss of QR31m.
A report by Steve Walters, Chief Financial Officer of Vodafone Qatar , during a press briefing yesterday showed a 21 percent improvement on the company's net loss year-on-year.
"We are very much in line with our expectations of the things that we gained last year," said Richard Daly, CEO of Vodafone Qatar .
Daly said over the last three months, there has been good progress towards short-term objectives highlighted last quarter whilst delivering improved financial results to shareholders.
"We are delighted with the improvements in the coverage and quality of our mobile voice and data network which were confirmed in the annual independent drive tests in November," Daly said.
The company will focus in improving indoor coverage and further increasing data speeds over the next quarter whilst preparing for the launch of the traditional post pay services which is considered a major project this year. "The dedicated efforts of the management team have resulted into another set of solid financial results for Vodafone Qatar ," Daly said.
© The Peninsula 2012
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