Omantel profits up in Q1

Oman telco sees profits up after reducing expenses

Tags: OmanOman Telecommunications Company
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Omantel profits up in Q1 Omantel was able to cut expenses in Q1.
By  Mark Sutton Published  May 3, 2012

Oman Telecommunications has reported a 13% increase in profits for the first quarter.

Net income was up to OR29.1 million ($75.6m) from OR 25.8m ($67m) in the same quarter last year.

Net revenue was actually down 0.4% at Omantel, to OR111.1m ($288.6m), but the operator cut expenses by 3.6% to OR 79.6m ($206.7m).

Amer Al Rawas, CEO of Omantel said at a press conference: "In 2011, we invested OR84mn in capital investments on the network. In 2012, it will be about the same. We are trying to keep it to 20% of revenue."

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