Omantel posts 7.6% rise in Q1 revenue

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has posted its preliminary unaudited financial results for the first quarter of 2015, reporting revenue of OMR129.4 million (USD334.7 million), an increase of 7.6% from OMR120.2 million in the year-ago period. Growth was driven by the firm’s domestic operations, which saw an 8.4% year-on-year rise in turnover from OMR117.6 million to OMR127.5 million. Group EBITDA was OMR57.1 million for the first three months of 2015, up by 0.4% from OMR56.9 million in 1Q14, while net profit grew 0.6% year-on-year to OMR34.6 million.