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FINANCIAL NEWS
Ooredoo revenue down to USD4.38b in H1
30 Jul 2015
(MENAFN) Telecom giant Oaredoo said it posted revenue of USD4.38 billion in the first half of the year, marking a drop of 3 percent from the revenue reported in the same period a year ago.
The Qatari telecom also reported a drop of its net profit which stood at USD274.35 million, dropping from USD 466.39 registered for the same period in the year-ago period.
Excluding the impact of foreign currency depreciation, revenue would have increased by 3 percent. Net profit for the first half was also impacted by adverse currency movements and the challenges in Iraq.
“Ooredoo’s international brand, high speed broadband networks and services are increasingly building a compelling and valued range of services for our customers,” Chairman of Ooredoo said.
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