11 Apr 2006
Dubai-based wireless holding company Investcom has reported results for the year ended 31 December 2005 which show a 91% increase in total subscribers to 4.9 million. Gross operating revenues for the year reached USD903 million, an increase of 43% on the previous year, while EBITDA rose 42% to USD396 million. Net profit for the year climbed 31% to USD207.8 million. Investcom has a presence in ten countries in Asia, Africa and Europe. It operates GSM-based networks, mostly under the Areeba brand, in Syria, Ghana, Yemen, Benin, Liberia, Cyprus, Guinea Bissau and Sudan and has recently been awarded licences to operate in Afghanistan and Guinea. At the end of 2005 over 87.5% of Investcom’s customers were pre-paid, reflecting the cash-based economies in which it operates.