Q-Tel’s turnover up by 50% in first half

Qatar Telecom (Q-Tel) has posted revenues of QAR2.03 billion (USD563 million) for the first half of 2006, an increase of 50.3% over the corresponding period of last year, when turnover stood at QAR1.35 billion. The group reported EBITDA of QAR1.26 billion, up from QAR800 million in 1H05), a year-on-year increase of 57.3%. Net profit, after royalties payable to the Qatari government, stood at QAR858 million, up 47.9% on 2005’s figure of QAR580 million. Revenue from domestic fixed line operations grew by 31.5% to QAR601 million (QAR457 million). Q-Tel’s group mobile subscriber base reached 1.205 million at the end of June 2006, up 76.5% from 682,900 a year earlier. In addition to its domestic wireless business, the Q-Tel group includes Muscat-based Nawras Telecom, Oman’s second mobile operator, which reported 394,100 customers at the end of the period under review, which it claims gives it a 25% market share.