| Omantel H1 profit rises 11.8% to 61.2m rials |
MUSCAT Oman Telecommunications Company (Omantel) on Wednesday posted an 11.8 per cent rise in its net profit after tax at 61.2 million rials for the six months ended June 30, 2012, as against 54.7 million rials in the same period last year, the company said in a press release.
The company’s first half revenue increased 5 per cent to 234.5 million rials from 223.3 million rials in the corresponding period last year.
The increase in revenue is mainly attributed to a 63 per cent growth in mobile broadband subscribers. The mobile revenue also increased 7.4 per cent year on year.
Both service revenues and wholesale revenues recorded a growth of 4.2 per cent and 8.4 per cent, respectively. The increase in wholesale revenue is mainly contributed by increase in revenues from external administration and capacity sales, the press release added.
Omantel subscriber base posted a growth in the domestic and group levels. Excluding Worldcall subscribers, Omantel’s domestic subscriber base grew 12.6 per cent as of June 30, to 2.769 million, mainly contributed by Omantel mobile business.
The company also witnessed an increase in the total group customer base (including Worldcall subscribers) 10.7 per cent to 3.707 million as of June 30, 2012 compared to 3.348 million in the corresponding period in 2011.
Omantel Mobile continued to lead the market with a significant growth in its mobile market share to 59.6 per cent, making Omantel Mobile the fastest growing operator in the Sultanate.
The total operating expenses increased by 1.8 per cent to 167 million rials compared to 164 million rials in the corresponding period last year.
The increase was driven by higher employee cost, external administration and interconnection costs. The cost of sale of IRU and depreciation of plant, property and equipment has decreased by 4.5 million rials and 5.2 million rials, respectively.
Omantel’s chief executive officer, Amer Awadh Al Rawas said: “The company has continued to make outstanding growth despite many challenging conditions and increased competition in the domestic market”.
Rawas said: “The company is proud of its growth which is attributed to an increase in its mobile and fixed broadband customer-base by 63 per cent and 25 per cent, respectively. This is lucid evidence that we are in the right path and that we are gaining the fruits of our previous investments both in the network and customer experience enhancement”.
“We are delighted with the latest brand surveys that demonstrated a very good improvement of our brand scoring as well as our customers satisfaction which is credited to the relentless efforts of all our units to enhance the services that we provide and the experience of our customers. I would like to thank our loyal customers, visionary board, committed employees and supportive shareholders who have always been part and in support of Omantel’s journey to excellence” Rawas said.
Oman Tribune
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