01/11/2014 08:21 AST
Omani Qatari Telecommunications Company (Ooredoo) said the company has achieved a 27.7 per cent growth in net profit at OMR29.5 million for the first nine months of 2014, against OMR23.1 million for the same period last year.
Total revenues for the first nine months of 2014 grew by 11.3 per cent to OMR166.1 million from OMR149.2 million for the same period in 2013. The growth is driven by a rise in both mobile and fixed data revenue as well as international voice revenue.
The total number of customers grew by 6.5 per cent during the first nine months of 2014, up from 2,360,609 to 2,514,231.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) for the nine month period was OMR87.9 million compared with OMR71.1 million, which was mainly driven by higher revenue.
The fixed service customer base fell by 2.4 per cent to 59,630 customers in the first nine months of 2014 compared to 61,090 for the same period of 2013. "This is due to a transition period during which we upgraded our home broadband technology. This will bring improved services to our customers. Our mobile postpaid customer base grew by 2.8 per cent to 192,427 customers compared with 187,163 customers for the first nine months of 2013," said a press statement.
The mobile prepaid customer base increased by 7.1 per cent to 2,262,174 compared to 2,112,356 for the same period last year.
"We were pleased with our revenue growth in quarter three, which was driven primarily by an increase in both mobile and fixed data and international voice revenues. Whilst this is partly a reflection of seasonality with strong travel and celebrations with family and friends, it is also driven by our attractive, innovative and targeted customer offers," said Greg Young, chief executive officer of Ooredoo in Oman.
"Our Shahry Keys offer provided customers with the option of turning national voice minutes into international voice minutes. Plus, our 'More' recharge offers have generated huge interest and take-up in the market."
"Our strong result validates the heavy investment programme in our network, which continues to deliver the coverage and data speeds that customers want, with ongoing performance improvements experienced by our customers across the Sultanate," he said, adding; "Our continued focus on growth, operational efficiency and serving our customers will continue now that we have transitioned our company to our new brand Ooredoo.
Times of Oman
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