DOHA: Ooredoo Group profit for nine months ending September 2015 reached QR1.8bn. The group’s profit attributable to shareholders grew 102 percent to QR756m in the third quarter of 2015 from QR375m in the corresponding quarter previous year.

The growth in profit was supported by improved margins and the sale of non-core investments.

Group’s customer base reached almost 115m at the end of September 2015 an increase of 20 percent or nearly 19 million customers. This increase has been driven by strong performances in Indonesia Myanmar Algeria Qatar and Oman.

“Ooredoo showed healthy growth in customer numbers adding nearly 19 million net new customers in the last 12 months. Revenue growth in local currency terms continued across our key markets demonstrating strong underlying performance of the group and significant market potential for us in our footprint. In addition the group profit margins showed an improved trend in the third quarter of 2015. We remain optimistic of the long term value potential of Ooredoo despite some of the challenges we face such as currency depreciation in some of our markets and instability in Iraq” said Sheikh Abdulla bin Mohammed bin Saud Al Thani Chairman of Ooredoo.

Group’s revenue reached QR24.2bn in the nine months of 2015 supported by revenue growth in local currency terms in Qatar Oman Indonesia Myanmar Algeria Kuwait and the Maldives. Excluding forex impact group revenue would have increased by 4 percent on year on year basis.

“Ooredoo is increasingly at the heart of our customers’ shift to a digital connected world. Our growing role in society and our ability to create value for our customers offers long term value for our shareholders. The investment we have made over the past few years to transform our networks is delivering value by enabling Ooredoo to develop new digital products and services” he added.

Group Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) reached QR10bn in 9M 2015 with an EBITDA margin of 41 percent. Excluding forex impact Group EBITDA would have increased by 5 percent year-on-year (YoY).

“Ooredoo delivered a solid performance in Q3 2015 with YOY net profit increasing by 102 percent to QR756m. Ooredoo operations in Qatar Oman Kuwait and Myanmar recorded healthy growth in the period. In addition Ooredoo Algeria and Indosat increased their revenue and EBITDA in local currency terms. The security situation in Iraq continued to impact Asiacell’s results. Adverse currency movements mainly in Indonesia Algeria and Tunisia impacted our results reported in Qatari riyal” said Dr Nasser Marafih Group Chief Executive Officer of Ooredoo.

Group data revenues delivered strong growth driven by enhanced network speeds and coverage across our markets increasing data adoption and implementation of monetisation strategies. Data now represents 35 percent of its revenue. Group’s B2B revenue reached QR3.8bn while its earnings per share in nine-month period of 2015 stood at QR5.49.

“During the quarter Ooredoo successfully completed the divestment of its non-core asset in Philippines. Our focus remains on our core business in consumer and enterprise segments. Ooredoo is executing its data strategy effectively across its global footprint. 4G+ is now the standard for our customers in Qatar and Kuwait and we will be rolling out bigger faster and better networks in the rest of our operating countries. Data revenue across the Group has grown significantly during the period and now represents 35 percent of total group revenue. Our B2B strategy continues to deliver good revenue growth from our SME (Small and Medium Enterprises) customers and now increasingly multi-national clients” Nasser Marafih added.

Ooredoo Qatar delivered a solid performance in 9M 2015 thanks to strong growth in customer numbers revenue and EBITDA as well as revenue market share enhancement. Customer numbers increased by 14 percent to 3.5 million. Revenue increased by 12 percent to QR5.89bn and EBITDA increased by 16 percent to QR3.05bn. Supported by higher revenue and EBITDA net profit increased by 8 percent to QR1.61bn.

Ooredoo Oman’s strong performance continued with customer number increasing by 10 percent to 2.8m as at 9M 2015 compared to 2.5m for the same period of 2014. Oman revenue increased by 12 percent to QR1.83bn.

Ooredoo’s customer base in Kuwait stood at 2.4m at the end of nine months in 2015. Revenues for the period reached QR1686m an increase of 4 percent compared to QR1615m in same period 2014.

Ooredoo Algeria customer base at the end of 9M 2015 reached 13.1 million an increase of 14 percent year-on-year.

Ooredoo Tunisia maintained its market leadership position with its customer base remaining flat at 7.5m customers at the end of the nin-month period.

In Indonesia Indosat generated solid revenue and EBITDA growth in local currency terms as well as growing its customer base by 27 percent to 69m in 9M 2015 supported by network modernisation.

The Peninsula