Ooredoo Oman Q4 net profit rises 10.8 pct

2016-01-27 01:20:41

(MENAFN- The Peninsula)

DUBAI: 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 9.2 million rials ($23.90 million) in the three months to Dec. 31 up from 8.3 million rials 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 12.5 million rials.

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

Fourth-quarter revenue was 65.2 million rials. This compares with 60.5 million rials a year earlier.

Ooredoo Oman which ended Oman Telecommunication Co’s (Omantel) monopoly in 2005 made a profit of 41.6 million rials in 2015 up from 37.9 million rials in 2014.

REUTERS

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.