Omantel profits up by 29.6%

Oman Telecommunications Company (Omantel) reported a 29.6% increase in profit in the third quarter of 2008, compared to the same period in 2007. The group’s net profit after tax for the three months ended 30 September 2008 amounted to OMR106.9 million (USD278 million), compared with OMR82.6 million in 2007. Revenues rose by 16.7% to OMR314.5 million, compared with OMR269.5 million for the same period of 2007. Dr. Mohamed bin Ali Al Wohaibi, Omantel CEO, said: ‘The increase in the company’s profits during the third quarter was the result of efforts made by the company’s management to promote its services to customers, to realise their aspirations in keeping abreast of the latest technology in the communications sector and to spread its services throughout the Sultanate.’