Sudatel turns profitable at nearly $33mln in H1-22

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Abu Dhabi – Sudatel Telecom Group posted net profits attributable to the equityholders worth $32.61 million during the first half (H1) of 2022, versus net losses of $8.70 million in H1-21.

The revenues amounted to $188.22 million in the first six months (6M) of 2022, a leap from $127.36 million in H1-21, according to the income statements.

The basic and diluted earnings per share (EPS) stood at $0.0248 in H1-22, compared to a loss per share of $0.0066 in the year-ago period.

During the second quarter (Q2) of 2022, the company’s net profits attributable to the equityholders jumped to $10.46 million from $6.14 million in Q2-21.

Meanwhile, the revenues amounted to $90.90 million in April-June 2022, higher than $61.60 million during the same period a year earlier. The basic and diluted EPS increased to $0.0080 in Q2-22 from $0.0047 in Q2-21.

Last year, Sudatel logged net profits attributable to the equityholders worth $20.21 million, against net losses of $12.03 million in 2020.