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Vodafone Qatar experiences growth; cuts losses

Revenues for the quarter grew 21% year-on-year; net loss for the quarter was QAR 118 million

Vodafone Qatar experiences growth; cuts losses
Revenues for the quarter grew 21% year-on-year.

Vodafone Qatar has announced its financial results for the quarter ending June 30.

Revenues for the quarter grew 21% year-on-year, mainly driven by customer growth, strong ARPU and a 67% EBITDA improvement.

Vodafone Qatar gained 878,200 mobile customers as of 30 June; this is an increase of 16% compared to June 2011 and 4.9% growth over the previous quarter. Its quarterly revenue stood at QAR 350 million ($96.1 million), a 21% growth over the same quarter last year.

The telco's ARPU increased to 122, a 5% year-on-year increase. Quarterly profit before tax, depreciation and amortization (EBITDA) was at QAR 51 million ($14 million), but its net loss ended up at QAR 118 million ($32.4 million).

Richard Daly, Vodafone Qatar's CEO commented: "During the last three months the continued focus on offering great value and innovation has helped us to win new customers. We launched new services for our customers such as Prepaid add-ons and Smart Packs that offer our customers the flexibility of choosing daily, weekly or monthly bundles to suit their needs.

"This drove the growth in revenue and led to a more profitable sales mix which combined with strong cost control increased EBITDA significantly, reaching QR 51 million ($14 million) for the three months ended 30 June," said Daly.

Daly also said "At the end of quarter we also launched our exciting new Postpaid plans that offer amazing value and truly unique personalisation options."

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