Revenue, net profit up as Paltel reveals solid 2010 financial results

18 Feb 2011

Palestine Telecommunications Company (Paltel), Palestine’s incumbent telecoms service provider, has announced that in the twelve months ended 31 December 2010 it saw revenues increase by 7.88% year-on-year to JOD339.9 million (USD479 million). The operator pointed out that it had seen revenue growth in all sectors, revealing that turnover generated by its fixed line, mobile, data and IT operations rose 10.04%, 9.07%, 9.52% and 13.6% respectively over the year. Operating profit before tax for the twelve-month period was JOD111.8 million, up from JOD104.4 million in 2009, with Paltel attributing the increase to the rise in operating revenues and its new operational approaches in the face of a changing telecoms market in the country. Net profit for the telco in 2010 meanwhile stood at around JOD86.3 million, representing a 22.75% y-o-y increase.

In 2010 Paltel said that mobile subscriber numbers rose by 26.6%, reaching a total of 2.26 million, while the number of customers signed up to its fixed line broadband services stood at 107,389, up just over 16% against the 92,482 it had at end-2009. Fixed line voice customers, however, declined, with the operator reporting a total of 367,792 subscribers to such services at end-2010, down from 370,483; Paltel attributed the drop to a new disconnection policy for inactive lines.

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