Omantel profits up in Q1
Oman telco sees profits up after reducing expenses
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."
- JOIN THE DISCUSSION
- Add Yours
