Omantel posts 7% rise in 9M net profit

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has announced its preliminary financial results for the first nine months of 2014, reporting revenue of OMR357.6 million (USD925.8 million), an increase of 1.7% from OMR351.5 million in the year-ago period. According to a statement published on the Muscat Securities Market, net profit totalled OMR95.9 million in the nine months ended 30 September 2014, compared to OMR89.6 million in 9M13, while group operating expenses were stable at OMR257.6 million.