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FINANCIAL NEWS
Omantel posts 2.3% rise in 2011’s profit
08 Feb 2012
(MENAFN) Oman Telecommunications’ (Omantel) said that in 2011, the company’s net profit rose 2.3 percent from 2010’s USD284.88 million to USD292.65 million, reported Times of Oman.
The country’s biggest telecommunication service provider added that revenue reached USD1.17 billion, showing a rise of 8.6 percent from the USD1.07 billion recorded a year earlier.
It also said that net profit for the fourth quarter that ended December 2011 went up by 10 percent to USD77.69 million from USD69.92 million in 2010’s same period.
It is worth noting that fourth-quarter revenue jumped by 18 percent to USD310.78 million, compared with USD261.57 million in the same period a year before.
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