Strong wireless performance at home and abroad boosts Q-Tel revenues 18%

26 Jul 2005

State-controlled incumbent operator Qatar Telecom (Q-Tel) has reported a 17.8% rise in revenues during the first half of 2005, driven by a 63% increase in its mobile customer base year-on-year. Q-Tel group revenues for the six months to 30 June 2005 were QAR1.35 billion (USD371 million), whilst EBITDA rose 3.6% to QAR800 million. The revenue growth was primarily attributed to its wireless business, with mobile services accounting for 91% of revenue growth in the period. Q-Tel’s mobile subsidiary Qatarnet finished June with 600,215 subscribers. The impressive financial performance came as no surprise to Q-Tel shareholders, who were informed earlier this month that they would be receiving a record 36.5% interim dividend on their investment.

Q-Tel was also pleased with growth at its Omani mobile business, Nawras Telecom, a joint venture with Denmark’s TDC and local Omani partners, which launched services in March this year. By the end of June Nawras had 82,653 customers.

Oman, Qatar, Ooredoo Oman, Ooredoo Qatar