Omantel posts 48.8% growth in second quarter net income

Omantel has posted net income of OMR36.4 million (USD95 million) for the second quarter of 2008, up 48.8% year-on-year on the back of subscriber growth and cost cuts. For the six months ending 30 June net income grew 54.4%, a level that CEO Mohammed Al Wohaibi says he hopes the company wil maintain for the entire year. Revenue for the quarter stood at OMR 201.1 million, up 14.3% on the corresponding period last year.