Q-Tel boasts promising results

Qatar Telecom (Q-Tel) has announced a 29% increase in its net profit for the first nine months of 2004 to QTR1.14 billion (USD313 million). Revenues grew by 17% to QTR475 million, up from QTR257 million previously. Q-Tel said the results were boosted by continuing growth at its wireline and wireless units, in particular its GSM network, which saw a 33% growth in subscribers to 476,000 at the end of September.