Ooredoo Group customers up 20% in a year

Qatar-based Ooredoo Group has reported that its consolidated telecoms customer base grew by 20% in the twelve months to 30 September 2015 to 114.9 million, driven by strong mobile user uptake at Indonesian unit Indosat as well as Ooredoo-branded mobile operations in Myanmar, Algeria, Qatar and Oman. Group revenue in reported currency fell 3% year-on-year to QAR24.20 billion (USD6.64 billion) in 9M 2015, impacted by adverse currency movements in Indonesia, Algeria and Tunisia, as well as the security situation in Iraq. Excluding FX impact, nine-month group revenue would have increased by 4% y-o-y, supported by revenue growth in local currency terms in Qatar, Oman, Indonesia, Myanmar, Algeria, Kuwait and the Maldives. Group EBITDA reached QAR10.01 billion in January-September 2015, down by 2% y-o-y (although in local currency terms the figure would have increased by 5%), while consolidated net profit dropped by 15% to QAR1.76 billion in the first three quarters of the year.