Revenues and profit climb for Paltel in 2Q

6 Aug 2008

Palestine’s incumbent telecoms service provider Palestine Telecommunications Company (Paltel) has reported a 53% rise in 2Q net profit, compared to the same period of 2007. Revealing its second quarter results for the three months to 30 June 2008, the operator saw net profit rise to JOD42.2 million (USD59.9 million), with revenues also climbing strongly, up 32% over the year to JOD139 million. Paltel attributed the strong financials to the growth of its subscriber base across all sectors, reporting that its mobile division had signed up 286,538 subscribers over the twelve month period to take its total to 1.19 million, an increase of 31.5%. The company’s broadband operations also saw a strong growth, with a 53% rise reported, taking the total to 64,000.

Palestinian Territory, Palestine Telecommunications Company (Paltel, incl. Hadara)