Nawras Q3 net profit climbs 36%

Omani telecoms operator Nawras, which is majority owned by Qatar’s Ooredoo, has announced its preliminary unaudited results for the third quarter of 2014, reporting revenue of OMR57.8 million (USD150 million), an increase of 13.9% from OMR50.8 million in the year-ago period. For the first nine months of 2014 turnover grew 11.3% year-on-year to OMR166.1 million. EBITDA totalled OMR31.2 million in the quarter ended 30 September 2014, up by 27.3% from the year-ago quarter, while net profit jumped 35.9% from OMR8.0 million in 3Q13 to OMR10.8 million twelve months later. As at 30 September 2014 Nawras’ fixed and mobile customer base stood at 2.514 million, an increase of 6.5% from 2.361 million a year earlier. The firm’s full results for the nine-month period, along with a complete set of financial statements, will be released after approval from the Board of Directors, expected following its meeting scheduled for 29 October 2014.