Omantel posts Q1 revenue growth of 4.7%

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has announced its preliminary unaudited financial results for the first quarter of 2016, reporting revenue of OMR135.5 million (USD350.9 million), an increase of 4.7% from OMR129.4 million in the year-ago period. Growth was driven by the firm’s domestic operations, which saw a 5% year-on-year rise in turnover, mainly contributed by revenues from fixed and mobile broadband services and submarine capacity sales. Group EBITDA totalled OMR70.4 million for the first three months of 2016, up by 8.2% from OMR65.1 million in 1Q15, while net profit grew 0.6% year-on-year to OMR34.8 million.