Jordan Telecom's H1 net profit falls 2.6%

UPDATE 1: Fixed-line operator hit by revenue and subscriber number declines at its Orange Mobile unit

Tags: Economic crisisJordanJordan Telecom GroupSubscribers
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Jordan Telecom's H1 net profit falls 2.6% Fixed-line operator hit by revenue and subscriber number declines. (Shutterstock)
By  Suleiman al-Khalidi Published  August 3, 2009

Jordan Telecom Group, the country's sole fixed-line operator, said on Monday first-half net profits fell 2.6 percent to 51.2 million dinars ($72.2 million) due to a decline in revenues from its mobile unit.

The group, in which France Telecom owns a 51 percent stake, said revenues at its integrated mobile, internet and fixed-line business edged up 0.03 percent to 196.3 million dinars ($277 million) in the first half of the year.

Internet and fixed-line revenues rose an annual 2.6 percent to reach 109.9 million dinars in the year to June.

But the subscriber base of Jordan Telecom's mobile unit, Orange Mobile, fell 2.1 percent in the first half from the end of last year as competition increased and the global downturn hit domestic demand.

Revenues at the mobile unit fell 3 percent to 89.1 million dinars at end of June 2009 against the same period last year.

The group said its overall fixed-line, internet and data services subscriber base fell 0.9 percent in the first six months of 2009 and stood at 2.5 million subscribers compared to year-end 2008.

The group, which did not give quarterly figures, said it hoped its fast-growing data services business could offset the fall in the mobile phone market. Jordan Telecom gave no outlook for the rest of 2009. (Reuters)

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