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Ooredoo’s net profit up 14.5 percent in 2014

01 Feb 2015

(MENAFN) Omani-Qatari Telecomm-unication Company SAOG (Ooredoo) posted a net profit of USD98.18 million for the financial year ending December 31, up 14.5 percent on-year, Oman Observer reported.

The operator attributed the increase to improvement in EBITDA partially offset by higher depreciation due to the investment in network modernization and expansion and rebranding cost.

Total revenues for 2014 grew by 12.1 percent to USD586.52 million compared with USD523.3 million in 2013. The growth is driven by increases in both mobile and fixed data revenue as well as international voice revenue.

“We expanded our fiber network and are providing a future-proof network countrywide and a second-to-none customer experience,” the company said in a statement.

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