Omantel Q4 net profit up 10% on growing subscribers

In a statement to the Muscat Securities Market, Oman’s second national telecoms operator Nawras Telecom has announced its preliminary audited financial results for the year ended 31 December 2011. The company said it generated revenue of OMR452.6 million (USD1.17 billion) in 2011, an increase of 8.6% compared to the OMR416.6 million reported the previous year, while turnover for the fourth quarter of 2011 jumped 18% year-on-year to OMR119.5 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) in FY 2011 grew 5.3% year-on-year to OMR238.4 million, and rose 12% from OMR56.3 million in Q4 2010 to OMR63.4 million in the corresponding period of 2011. Omantel, which is 70%-owned by the state, said net profit increased 2.3% from OMR110.3 million in FY2010 to OMR112.9 million twelve months later, and totalled OMR30.1 million in the fourth quarter of the year, up 10% compared to Q4 2010. At 31 December 2011 Omantel reported a total of 3.53 million fixed and mobile subscribers (including customers of its Pakistani subsidiary Worldcall Telecommunications), an increase of 6% from 3.329 million a year earlier.