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Young: Growth is largely driven by a continued rise
in data demand in the mobile and fixed markets

Ooredoo Oman H1 net profit up 12.2pc

MUSCAT, July 28, 2016

Ooredoo Oman, a top telecom provider in the Sultanate, has reported net profit of RO24.9 million ($64.4 million) for the first half of 2016 as compared with RO22.2 million in the same period of 2015, marking an increase of 12.2 per cent.

Increase in net profit for the year is driven by higher EBITDA partially offset by higher depreciation cost due to investment in network modernisation.

EBITDA for the first half of the year stood at RO73.4 million compared to RO68.4 million for the first six months of 2015. EBITDA growth for the year is driven by higher revenue.

Revenues for the first half of 2016 grew by 8.9 per cent to RO132.8 million compared with RO121.9 million in 2015. The growth is driven by increases in both mobile and fixed data revenue.

Total number of customers grew by 3.2 per cent, to be 2,841,472 at the end of the first half of 2016 compared to 2,753,140 for the same period of 2015.

The fixed service customer base increased by 28.7 per cent to 80,292 customers in Q2 2016 compared to 62,410 in same period 2015. The mobile post-paid customer base grew by 5.1 per cent to 212,352 customers compared with 202,026 customers in Q2 2015. The mobile pre-paid customer base for Q2 2016 increased by 2.4 per cent to 2,548,828 compared to 2,488,704 for the same period last year.

Greg Young, CEO of Ooredoo Oman, said: “We are pleased with our revenue growth in this first half of the year and this is confirmation of our continued focus on customer needs. Our growth is largely driven by a continued rise in data demand in the mobile and fixed markets, as well as a significant increase in fixed customer numbers.”

“The growth is also a result of our continued network investment, both to modernise and increase coverage. On the back of this, we have developed a number of inspiring products, promotions and services, such as our Superfast Fibre Home Broadband packages, our popular daily Ooredoo Surprises and attractive Shahry Business Pack offers, to meet the changing needs of customers and businesses in all sectors across the Sultanate,” he added.

“Customer service remains one of our primary business drivers and this is reflected in some significant awards we have won this quarter. We continue to innovate customer excellence across all of our touch-points.

“We will build on this strong first half with the input of the entire Ooredoo family and I would like to thank them for their continued contribution to our success and growth,” Young concluded. – TradeArabia News Service




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