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Nawras reports 2.9% decline in Q413 net profit

Nawras today reported that revenue increased by 2.7 per cent in Q413 to OMR52.8 million (US$137 million), with full-year revenue increasing by 4.4 per cent to OMR 202 million. The increase in revenue was driven by growth in mobile and fixed data revenues, offset partially by decline in SMS.

EBITDA in Q4 amounted to OMR27.4 million, up 4.6 per cent year-on-year.

2013 EBITDA increased by 4.2 per cent year-on-year to OMR98.9 million, with the improvement accounted for by revenue growth and lower cost of sales partially offset by higher opex.

Net profit for the fourth quarter was OMR10 million, down 2.9 per cent year-on-year.

Total net profit achieved for 2013 was OMR33.1 million, down10.5 per cent year-on-year. Despite higher EBITDA, net profit was affected by higher depreciation due to the investment in network modernisation and expansion.

Total customers grew by 9.3 per cent year-on-year or 203,797 to 2.396 million by end of 2013.

The fixed service customer base grew by over 45 per cent to 64,287 in 2013. The mobile post-paid customer base expanded by 4.3 per cent to 186,917 customers, while the prepaid customer base increased by 8.9 per cent to 2.145 million end-2013.

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