Published On: Tue, Nov 4th, 2014

Vodafone Qatar Trims Losses, Revenue up QR 1.144 Billion in H1

Vodafone Qatar Trims Losses, Revenue up QR 1.144 Billion in H1

Vodafone Qatar Trims Losses, Revenue up QR 1.144 Billion in H1

Vodafone Qatar Monday announced total revenue of QR 1.144 Billion, up 24% over 2013, and trimmed its net loss for the six-month period ended September 30 by 49% compared to last year.
The telecom operator’s cellphone customers increased to 1,372,000, up 16% over compared to 2013. Its cellphone Average Revenue Per User (ARPU) increased to 128, an increase by 3% year-on year.
Commenting on the H1 results, Vodafone Qatar Chairman Sheikh Dr Khalid Bin Thani Al Thani said, “We continue to see success in our postpaid services that contributed to a 3% ARPU improvement. We continue to invest heavily in our network, building new indoor and outdoor sites and upgrading sites in key locations.
“The 4G coverage expansion is ongoing; we have introduced 4G in Wakra, Hamad International Airport and also increased our coverage in the desert. We have also launched 4G roaming so our customers can enjoy 4G services when they travel abroad to Saudi Arabia, Spain, Romania, and Netherlands.” Summarising the H1 results, Vodafone Qatar CEO Kyle Whitehill said, “We have posted strong six month results in a competitive environment, data revenues continue to grow significantly and net losses have halved.” The QR 295 Million as Earnings Before Interest, Taxes and Amortization (EBITA) is a 41% growth year-on-year, he said.
The EBITDA margins improved three-percentage points year-on-year to 26% while distributable profit increased by 190% year-on-year to reach QR 120 Million.
The net loss of QR 81 Million for the period is an improvement of 49%compared to 2013 while the loss per share is QR (0.10) compared with QR (0.19) in 2013.
Replying to QNA on Qatarisation,Whitehill said, “Vodafone Qatar has achieved 14% Qatarisation in 520 full-time employees.”

Source : Qatar News Agency

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