Omantel's profits up 4.1% in 2012
Soaring demand for broadband buoys Omantel's 2012 results
Omantel, Oman's incumbent telecom operator, posted a net profit of OMR116.2 million ($301.7m) for 2012, a rise of 4.1% compared to the previous year.
The telco posted revenues of OMR458.9 million, up 1.4% compared to the full year 2011. Total subscribers increased by 8.5% to reach 3.8 million at the end of 2012, an increase of 8.5%.
Omantel Mobile's subscriber base reach 2.5 million customers by the end of 2012. When including resellers or MVNOs, Renna Mobile and Friendi Mobile, Omantel Mobile's customer base increased by 8.5% to a total 3.06 million at the end of December 2012.
Broadband services saw strong growth with mobile subscribers up 59.5% and fixed broadband subscriber increasing by 36%.
Dr Amer Awadh Al Rawas, CEO, Omantel, said: "2012 has been yet another successful year for Omantel that saw a good growth in revenue, net profit and customer-base.
"We are delighted with the results the company achieved during 2012 that have seen our subscriber base growing despite the increased domestic competition as well as competition from over the top players and challenging conditions in the domestic market."
Omantel competes with second operator, Nawras, which released its Q4 2012 results in January.