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Ooredoo H1 revenue falls 5.4% to USD 1.2 bln
2015-07-28 08:21:00| Telecompaper Headlines
(Telecompaper) Ooredoo Group reported a 5.4 percent decline in revenues for the first half of 2015 to USD 1.187 billion, hurt by the stronger dollar. In local currency in Kuwait, Algeria and Maldives, the operator posted revenue growth, and the total number of subscribers rose by 11.3 percent year-on-year to 24 million on 30 June. EBITDA declined to USD 400 million from USD 490 million in the same period of 2014. Net profit declined to USD 55.8 million from USD 171.8 million in 2014, hurt by adverse currency movements in Tunisia and Algeria as well as foreign exchange losses of USD 44.1 million, mainly from Algeria. Chairman Sheikh Saud Bin Nasser Al Thani said customer and revenue growth performance demonstrates progression and delivery of the group's strategy to invest in differentiating customer experience while providing world-leading network speeds. Al Thani said the group will continue to execute its date-centric strategy to take advantage of the opportunities offered by an increasingly digital world.
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Category:Telecommunications