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Nawras’ 2013 revenue hits $133m

Muscat, January 30, 2014

Omani telecom operator Nawras said its revenue increased 2.7 per cent in the fourth quarter of last year, from RO51.4 million ($133.1 million) for the same period in 2012.

The net profit for the period was RO10 million, down 2.9 per cent as compared to 10.3 million for the same quarter in 2012.

The full year revenue reached RO202 million, up 4.4 per cent compared to RO193.5 million in 2012.

The increase in revenue was driven by growth in mobile and fixed data revenues, offset partially by decline in SMS, said a statement.

The total net profit achieved for the year was RO33.1 million, a decline of 10.5 per cent against RO37 million in 2012.

Despite a 4.2 per cent increase in EBITDA in the last quarter, the net profit was affected by higher depreciation due to the investment in network modernisation and expansion.

The operators total customers grew by 9.3 per cent to more than 2.3 million by the end of the year, compared to nearly 2.2 million in 2012.

The fixed service customer base, however, grew by over 45 per cent to 64,287 in 2013, compared to 2012.

The mobile post-paid customer base expanded by 4.3 per cent, while the pre-paid customers increased by 8.9 per cent.

Sayyid Amjad Al Busaidi, chairman, said: “During 2013, Nawras has successfully continued to make big performance achievements despite the highly competitive market environment. A number of global companies are already retaining Nawras to meet their sophisticated data and telecommunications needs, a trend that we expect to grow in the years ahead as more companies are attracted to Oman on account of its political stability, geographical position and robust economy.”

Greg Young, CEO, said: “We have been successful in increasing our revenues and total number of customers. We will continue to future-proof the Nawras network, adding additional sites and Turbocharging existing base stations to provide a second-to-none customer experience across the country, this will continue in 2014 to all main cities of Oman.”

The Nawras board of directors will meet on February 19 to review and approve 2013 audited financials. - TradeArabia News Service




Tags: profit | Revenue | down | Nawras |

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