Vodafone Qatar Chairman Sheikh Dr. Khalid bin Thani Al-Thani described ‘outstanding’ the telecom operator’s annual rate of growth while announcing the financial report for the year ended March 2014.
“This outstanding rate of growth is due to the increase in mobile revenues,” he told the Qatar Exchange-listed company’s annual general assembly here last night.
The assembly approved all proposals including the board’s recommendation to disburse a dividend of 17 dirhams per share.
The company’s share of mobile revenues in Qatar increased to 33.6% by the end of the financial year, compared to 30.4% in the previous year, he said.
Sheikh Dr. Khalid said, “Vodafone Qatar achieved 30% growth in revenue to reach QR 1.98 Billion. This outstanding rate of growth was primarily due to the increase in mobile revenues. As a result, the Company’s share of mobile revenues in Qatar increased to 33.6% by the end of the financial year, compared to 30.4% in the previous year.” He attributed growth in mobile revenues to 62% of Qatar’s population that uses Vodafone Qatar’s services every month.
“On March 31, 2014, the number of our customers reached 1.327 million, an increase by 22%, representing 243,000 more subscribers over the previous year,” he said.
The growth in revenues and the highly- efficient financial management contributed to improving EBITDA profitability margin by 6 percentage points to reach 25%, reflecting an important year-on-year progress – which is one of the main reasons we recommend distributing profits to our shareholders, he said.
The chairman praised the management, staff and for their diligence ,and shareholders and customers for their faith in the company.
Source : Qatar News Agency