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FINANCIAL NEWS
Vodafone Qatar’s Q1 loss down to USD33.6m
15 Jul 2011
(MENAFN) Vodafone Qatar’s acting CEO, John Tombleson, said that in the first quarter, the telecommunication company managed to narrow its loss from USD41 million in the previous quarter to USD33.6 million, reported Arabian Business.
Tombleson added that the company which was established in the country in 2009 recorded a 43 percent increase in its customer base compared with last year, where the current number of its clients reached 761,000.
He also said that in the quarter, Vodafone Qatar’s revenue rose by 65 percent reaching USD80 million, whereas average revenue per user went up 11 percent from the same quarter in 2010 reaching USD32.
It is worth noting that Vodafone Qatar is part-owned by Vodafone Group, the Qatar Foundation and various Qatari institutional investors, and 40 percent of the company is listed on the Qatar Exchange.
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