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FINANCIAL NEWS
Omantel Q2 profits decline 19%
11 Aug 2010
(MENAFN) Oman Telecommunications Company (Omantel) reported a 19 percent drop in second-quarter net profit, missing analysts forecasts, as its operating costs rose, Times of Oman reported.
The national telecoms provider made a profit of $74.18 million in the three month period ending in June, compared with $90 million for the same period in 2009.
The company’s operating expenses rose 25 percent in the first half of 2010, according to a statement issued by the company, without elaborating.
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