FINANCIAL NEWS

Telecom Ooredoo profit jumps by 2pct in H1

27 Jul 2017

(MENAFN) Telecom giant Ooredoo’s profit for the Jan-June period of this year grew to QR16.3bn, a jump of 2 percent over the same period of 2016.

Meanwhile, growth was driven by Ooredoo Qatar, Ooredoo Oman, Ooredoo Kuwait, Ooredoo Tunisia, Asiacell, Indosat Ooredoo and Ooredoo Maldives.

Moreover, Group EBITDA grew by 7 percent to QR7.0bn with an enhanced EBITDA margin of 43 percent, indicating a strong operational performance and good cost control.

Additionally, net profit in the cited period of last year benefited from notable foreign exchange gains of QR540mn.

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