Qatar Telecom (Qtel) has posted consolidated group revenue of QAR20.3 billion (USD5.6 billion) for 2008, up 93% year-on-year. Strong subscriber growth coupled with acquisitions helped boost the results. The company’s five largest markets are domestically (contributing 27% to total sales), followed by Indonesia (21%, after the consolidation of Indosat), Kuwait (15%), Iraq (14%) and Algeria (9%). EBITDA grew 90% to QAR9.8 billion, while net income came in at QAR2.8 billion (including minority interests), a company record. At 31 December 2008 Qtel served 57.5 million customers in 17 countries.
Meanwhile, Qtel has announced the launch of an ‘Unlimited Mobile Broadband Plan’ which allows customers to pay a fixed monthly fee for unlimited access to the internet via a HSDPA and HSUPA compatible modem. The service costs QAR400 (USD110) plus a one-off charge of QAR100, although customers subscribing for a year will receive the modem (worth QAR779) free of charge.