Omantel reports 1Q2007 results

Incumbent telco Oman Telecommunications Company (Omantel) has announced net profit after tax of OMR24.1 million (USD62.8 million) for the first quarter of 2007 an increase of 12.7% compared with a figure of OMR21.4 million in the same period of last year. Total group revenue at 31 March 2007 rose by 10% year-on-year to OMR85.71 million compared to OMR78 million in the corresponding period in 2006. Operating expenses increased by 10.2% compared with Q12006, in line with the increase of company’s activities in preparation for forthcoming competition when the fixed-line and ISP sectors are deregulated. The Telecommunications Regulatory Authority (TRA) has promised to open up the fixed line market with the issue of new licences, but has yet to say when it will happen.