Qtel reports another strong performance

Qatar’s dominant telco Qtel has announced group revenues in 2006 of QAR4.42 billion (USD1.24 billion), up by 48.4% on 2005’s sales of QAR2.98 billion, and EBITDA which rose by 50.6% in the year to QAR2.62 billion, up from QAR1.74 billion. The group’s combined mobile customer base in Qatar and Oman reached 1,491,700 at the end of December, a year-on-year rise of 55.3%, with Omani subsidiary Nawras accounting for 572,000 subscribers. Qtel’s domestic division saw revenues rise by 39% over the previous year, from QAR2.84 billion to QAR3.95 billion, driven predominantly by wireless, data and corporate Services. The Qatari unit also achieved a 36.7% year-on-year rise in EBITDA to QAR2.59 billion.