FINANCIAL NEWS

Qatar’s Ooredoo expects USD8.99 billion revenue in 2015

20 Mar 2015

(MENAFN) According to predictions made by HSBC, Ooredoo’s revenue is set to drop to USD8.99 billion, marking a 3 percent decrease, The Peninsula Qatar reported.

Last year, Ooredoo’s annual profit dropped 17 percent to USD585 million, the lowest since 2007, while earnings before interest, tax, depreciation and amortization (EBITDA) will fall by 4 percent.

Nonetheless, Ooredoo is considered among the best-run of the Gulf operators, having avoided the excessive prices which its regional rivals paid to build up foreign portfolios.

But factors largely beyond its control have dulled Ooredoo’s luster, and its profits for the past two quarters have missed analysts’ forecasts by a wide margin.

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