Home / / Paltel's net profit jumps 16.6% in first half

Paltel's net profit jumps 16.6% in first half

Palestine's incumbent operator achieves solid growth despite competition

Paltel's net profit jumps 16.6% in first half
Paltel, Palestine's incumbent telecom operator has increased revenue by 11% and net profit by 16.6% in H1 2011.

Paltel, Palestine's incumbent telecom operator, managed to increase its revenue by 11% and its net profit by 16.6% in the first half of 2011, despite facing tougher competition from the country's second operator, Wataniya Palestine.

Paltel's net profit reached $67 million in H1, compared with $58 million at the end of H1 2010. Revenue reached $257 million, compared with US$ 231 million at the end of H1 2010.

The company achieved growth in its mobile, fixed-line and data revenues by 13.5%, 3.4%, and 67.2% respectively.

Paltel, which was founded in 2005, competes with Wataniya Palestine, which launched commercial services in the West Bank in November 2009.

Both operators also face illegal competition from Israeli mobile operators which gain coverage in Palestine by placing cell towers along the borders and in settlements in the West Bank.

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