Omantel domestic ops drive 9% rise in H1 profit

14 Jul 2016

Oman Telecommunications Company (Omantel), the Sultanate’s incumbent telecoms operator, has reported revenue of OMR271.6 million (USD703.1 million) for the first half of 2016, an increase of 5.9% from OMR256.6 million in the year-ago period. Growth was driven by the firm’s domestic operations, which saw a 6.7% year-on-year rise in turnover, contributed mainly by revenues from fixed and mobile broadband services and submarine capacity sales. Group EBITDA totalled OMR138.6 million for the six months to end-June 2016, up by 10.3% from OMR125.7 million in H1 2015, while net profit grew 9.0% over the same period, from OMR61.3 million to OMR66.8 million.

As previously reported by TeleGeography’s CommsUpdate, last month Omantel received a non-binding offer for its shares in Pakistani unit WorldCall Telecom, reportedly from local investor Allied Supplies and Services and Dunya Technologies. According to Omantel, the offer ‘is subject to due diligence study’.