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Oeredoo Oman net profit up 16.2 percent in Q2

23 Jul 2015

(MENAFN) Oeredoo Oman, the country’s second-largest telecom operator, said it posted an increase of its net profit of 16.2 percent in the second-quarter, Gulf Times reported.

The telecom firm, majority-owned by Qatar’s Ooredoo, made a net profit of USD29.9 million in the three months to June 30, up from USD25.6 million in the year-earlier period.

The figure was higher that forecasts which pointed to a net profit of USD28.47 million. The increase marked a continuous rising pace for five quarter, following a seven-straight quarters of loss.

The company had 2.75 million mobile and fixed line subscribers as of June 30, up 11.4 percent from a year earlier. Ooredoo Oman ended Oman Telecommunication Co’s (Omantel) monopoly in 2005.

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