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FINANCIAL NEWS
Oman’s Ooredoo telecoms posts 5.4pct fall in profit
16 Jan 2017
(MENAFN) Ooredoo Oman, the Sultanate’s number 2 telecom operator, posted a 5.4 percent drop in Q4 net profit.
In addition, the firm made USD22.6mn in the three months to Dec. 31, down from 9.2mn rials in the year earlier period.
Accordingly, Gulf Capital Markets predicts 1.6mn rials net profit, while Q4 revenue of 68.2mn rials, against 65.2mn rials a year earlier.
The firm competes with Oman Telecoms (Omantel) for market share, while the telecom operates will have to pay a 12 percent royalty fee on their incomes this year.
M
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