PalTel reports 22.75% net profit growth in 2010

Palestinian telco PalTel Group reported net profit for 2010 amounted toUS$122 million up by 22.75 per cent from the previous year.

Consolidated net operating revenues grew 7.88 per cent to reach US$479 million. With regards to the operating revenues of each of the telco’s segments, PalTel achieved a growth in its fixed line, mobile, data and IT revenues of 10.04 per cent, 9.07 per cent, 9.52 per cent and 13.60 per cent respectively.

The consolidated operating income for the company reached US$158 million at the end of 2010, reflecting a year-on-year growth rate of 7.09 per cent. The telco reported this growth was achieved by an increase in consolidated revenues and a focus of operational efforts on core telecom functions and outsourcing support functions.

Mobile and ADSL subscribers grew by 26.58 per cent and 16.12 per cent, respectively reaching a customer base of 2.26 million and 107,389 compared with 1.8 million and 92,483 a year earlier. The number of fixed line subscribers witnessed a 2.08 per cent decline to stand at 362,792 subscribers.