(MENAFN - Arab News) Sabih Masri, chairman of the Palestine Telecommunications Company (PalTel) announced the financial results for the first half of 2011 at a board meeting held recently in Amman, Jordan.
Consolidated net operating revenues grew by 11 percent to reach 257 million at the end of the first half of this year compared with 231 million at the end of H1-2010, according to a statement.
With regard to the operating revenues of each segment, the company achieved a growth in its mobile, fixed line and data revenues by 13.5 percent, 3.4 percent and 67.2 percent respectively.
The consolidated operating income for the company reached 91 million by the end of H1-2011 compared with 78 million by the end of H1-2010, a growth of 16.3 percent, according to the statement.
This growth was achieved by an increase in consolidated revenues and in light of the positive effect of the new operating policy (strategy) focusing management efforts on core telecom functions and outsourcing support functions.
The consolidated net income increased by 16.6 percent to stand at 67 million at the end of H1-2011 compared with 58 million at the end of H1-2010.
Mobile subscribers grew by 2.5 percent to stand at 2.31 million at the end of H1-2011 compared with 2.26 million at the end of FY-2010, and grew by 11.75 percent compared with the end of H1-2010 where the total number of subscribers was 2.07 million.
The composition (split between) of the prepaid and postpaid subscribers was 90.3 percent and 9.7 percent respectively, according to a statement.
This growth in the number of mobile subscribers was affected by several acquisition campaigns and new products and services that targeted existing and prospective customers.
The company will continue to grow its customer base in its core services, mobile, fixed line and data services while meeting the demands of current customers who will be able to benefit from technological developments while receiving high quality and added value services.
Since some equipment is able to enter the Gaza Strip, we will continue to provide services to more than 40 percent of our customer base.
"With more than 82 percent market share and with 50 percent penetration rate, we are still confident of capturing future growth in the telecom market in the Palestinian territories," according to the statement.
The PalTel chairman emphasized that "the financial statements are a clear indication of our focus upon our core business operations in the fixed, mobile and data services which has further allowed our team to strive in our technical and administrative abilities to further develop our strategy in terms of current services and processes that utilize the latest technological developments.
Masri said: "Our growth in performance is a direct result of the efforts of the group companies in providing the latest developments in information and technology combined with its determination to lead the Palestinian community in providing advanced services in mobile, fixed and data communications for the benefit of all customers."
Ammar Aker, CEO of Paltel Group, said: "Our continued efforts and progress during the first half of the year has resulted in an increase in revenues and profits in all Paltel Group companies which is an indication of our hard working team's abilities to adapt and adjust to the demands of the competitive market."
Aker said the Group companies are launching campaigns that stress technological developments that are in touch with global developments in telecom services in order to reach out to all Palestinian communities.
"Such efforts are directly reflected in our positive growth in the market, where we continue to develop information technology services to meet the demand of all stakeholders."