Nawras reports first FY results since listing

Omani telco Nawras announced its first full-year unaudited financial results since its IPO in November 2010, for the year ended December 31, 2010. The results showed revenue growth of 10 per cent to OMR 188.9 million (US$491 million) compared to OMR 171.6 million in 2009. EBITDA grew 17 per cent to OMR 102.5 million, while net profit increased 20 per cent to OMR 50 million. 2010 also saw the successful launch of the fixed service business and the international gateway.

The telco also reported that its consolidated customer base stood at over two million at the end of 2010.