Nawras posts 14pc net profit growth
Muscat, April 30, 2014
Nawras, a top telecom provider in Oman and an Ooredoo company, has registered a 14.3 per cent growth in its net profit for the first quarter of 2014 which soared to RO8.8 million ($22.7 million) compared to RO7.7 million last year due to improvement in Ebitda.
Announcing the results, the Omani telco said the revenues for the three months increased by 9.4 per cent to RO52.7 million from RO48.2 million last year.
The growth was mainly driven by increases in both fixed and mobile data revenue as well as international voice revenue offset by a decrease in SMS revenue, said Nawras in its statement.
Commenting on the results, CEO Greg Young said: "Our strong quarter-on-quarter results are bolstered by the confidence of our customers in the strength of our ongoing network modernization programme, which continues to enhance the customer experience."
"Careful management and optimization of costs, has contributed to the improving Ebita result. The recent segmentation to focus on different customer requirements has also helped us to provide the plans and bundles that both consumers and businesses need," stated Young.
The Ebitda for the period was RO26.6 million compared to RO23 million last year, thus posting an increase of 15.7 per cent driven by increase in revenue.
"Our Turbocharging programme will continue during 2014, bringing world class telecommunications services to more and more areas of the country and bringing the latest technology, value and innovative products and services to our customers," he added.
Nawras said there had been a significant increase in the total number of customers which grew by 8.9 per cent in the first quarter from 2.23 million to 2.43 million.
The fixed service customer base increased by 27.5 per cent to 65,728 customers compared to 51,532 for the same period in 2013. The mobile post-paid customer base also grew by four per cent to 189,554 customers compared with 182,090 customers last year.
The mobile pre-paid customer base for the first quarter increased by 8.8 per cent to 2.17 million compared to 2 million last year.-TradeArabia News Service