Qtel reports 12.5% rise in net profit in H110

Qtel Group today reported its first half results to end-June, recording a 13.7 per cent increase in revenues year-on-year to stand at QAR13.1 billion (US$3.6 billion).

Net profit attributable to Qtel shareholders at the end of the period stood at QAR1.8 billion, up 12.5 per cent year-on-year. The group’s consolidated customer base stood at 66.6 million at the end of June 2010, up from 51.4 million a year earlier, with its EBITDA performance described as strong, increasing 14.6 per cent to QAR6.3 billion. This resulted in an EBITDA margin of 48 per cent, an improvement of two per cent compared to the first six months of 2009.  

“We are pleased to see the results starting to come through on our in-market strategies. In particular, we continue to enjoy good results in Qatar and see important progress in Kuwait, where decisive efforts to maintain market share are yielding results. Indonesia, Iraq and Algeria continue to demonstrate their growth potential while the roll-out of fixed-line services in Oman also represents an exciting landmark in our development as a group,” commented Nasser Marafih, CEO of the Qtel Group.