(MENAFN- Gulf Times) Vodafone Qatar has narrowed its net loss by 12% to QR216mn for the year ended March 31, 2015 on the back of double-digit increase in revenues from higher customer base.
The company has suggested a dividend of 2.1% (QR0.21 per share) to be approved by shareholders at an annual general assembly meeting scheduled on June 30. The dividend represents a 24% increase on the company's maiden dividend paid last year.
The company witnessed continued mobile customer growth of 9% to 1.44mn, thus translating into a 16% increase in revenue year-on-year to QR2.31bn. The average revenue per user (ARPU) was QR122.
Capital investment increased 68% to QR579mn, representing 25% of revenue reinvested, a company spokesman said.
Earnings before tax, depreciation and amortisation (Ebitda) margins were stable at 25% with full-year Ebitda of QR566mn, a 14% improvement over last year.
"This financial year has seen many major achievements for Vodafone Qatar, most notably in network enhancements. In June 2014, we launched our 4G network and in January this year, we began Phase 1 of Vodafone's network evolution by upgrading every network site in Doha with the latest state of the art technology," Sheikh Dr Khalid bin Thani al-Thani, chairman of Vodafone Qatar said.
Highlighting that an investment of QR579mn in network infrastructure has resulted in increased 3G and 4G coverage and capacity, plus the launch of 4G+; he said all this has undoubtedly produced a "significantly" better customer experience in both voice and data services.
On the key priorities for the coming year, Vodafone Qatar said Phase 2 of network enhancements will complete the upgrade on its remaining cell sites across Qatar.
"In addition, we will continue to increase the number of indoor and outdoor 4G and 4G+ sites in key locations across the country making sure our customers always enjoy a great experience and superfast data speeds," Sheikh Dr Khalid said.
Vodafone Qatar also said it will "aggressively compete" in enterprise to deliver the most innovative and tailored solutions for its business customers whilst ensuring that their costs are well managed.
The loss per share is QR0.26 compared with QR0.29 for the same period last year.
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