Omantel hopes to maintain profit level

Telecom firm's chief executive says rise in telephone users will help margins.

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By  Ola Galal Published  August 4, 2008

Oman Telecommunications Co's chief executive said on Monday he was "hopeful" the company would maintain a 54 percent profit rise this year as telephone users were expected to rise 10 percent.

The company, also known as Omantel, posted net profit of $192 million in the six months ended June 30, up 54.3 percent from the year-earlier period.

"We are hopeful to maintain the 54 percent profit growth level this year," Mohammed al-Wohaibi told Reuters from Muscat.

"The number of (mobile and fixed-line) users are expected to increase by around 9 to 10 percent."

The 48.8 percent rise in second-quarter profit was due to the increase in the number of fixed-line and mobile telephone customers and cost cuts, Wohaibi said. (Reuters)

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