Omantel’s H1 Revenue Rises 2.1%

Omantel’s H1 Revenue Rises 2.1%

Oman Telecommunications Company (Omantel) yesterday said its revenue for the first half of 2013 rose 2.1 per cent to OMR239.3 million, while net profit for the six month period showed a marginal decline.

Omantel’s revenue has for the first six months increased to OMR239.3 million from OMR234.5 million the same period of 2012 while the net profit stood at OMR60.5 million against OMR62 million in 2012. Its domestic customer base has grown by 9.3 per cent while the group customer base has also grown by 6.6 per cent year-on-year. Omantel board approved distributing interim dividend of 40 per cent of the share nominal value to be paid to registered shareholders by the end of trading hours of Thursday August 29, 2013.

Omantel said growth was mainly driven by strong domestic retail and wholesale business revenues. Overall domestic revenues achieved a growth of 7.1 per cent. However, 66 per cent decline in WTL revenue impacted overall revenue growth at group level, which is mainly due to reduction in LDI business as a result of ICH introduction in Pakistan. Mobile and fixed line businesses recorded a growth of 4.9 per cent and 8 per cent, respectively, while domestic wholesale business grew by 13.7 per cent. The increase in wholesale revenue is mainly on account of increase in capacity sales and increase in international transit traffic.

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