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Ooredoo Oman Q4 net profit rises 10.8pc

MUSCAT, January 27, 2016

Ooredoo Oman, the sultanate's No 2 telecom operator, reported a 10.8 percent increase in fourth-quarter net profit on Wednesday, its sixth rise in eight quarters.

The firm, majority-owned by Qatar's Ooredoo, made a net profit of OR9.2 million ($23.90 million) in the three months to December 31, up from OR8.3 million in the year-earlier period, it said in a bourse statement.

Gulf Baader Capital Markets had forecast Ooredoo Oman would make a quarterly profit of OR12.5 million.

It had reported rising profits in five of the preceding seven quarters, Reuters data shows.

Fourth-quarter revenue was OR65.2 million. This compares with OR60.5 million a year earlier.

Ooredoo Oman, which ended Oman Telecommunication Co's (Omantel) monopoly in 2005, made a profit of OR41.6 million in 2015, up from OR37.9 million in 2014. - Reuters




Tags: Oman | Telecom | Ooredoo |

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