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Omantel profits up in Q1

Oman telco sees profits up after reducing expenses

Omantel was able to cut expenses in Q1.
Omantel was able to cut expenses in Q1.

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."