Paltel subscribers grow 30 per cent during 2009 to 2.26 million

Palestinian operator Paltel saw steady growth during 2009 with consolidated revenues rising 5.36 per cent over 2008 to reach US$444.41 million. Operating profits reached US$147.19 million during the period compared to US$138.84 million a year earlier, an increase of 6.01 per cent. The firm posted net profit of US$99.21 million.

The operator’s subscriber base grew by 30 per cent to reach 2,263,120 customers by year end, compared with 1,744,433 the previous December. Mobile accounted for 1.8 million subscribers, followed by 370,638 fixed line users and 92,482 ADSL connections.

The general assembly approved the board of directors’ recommendation for a cash dividend equivalent to 35 per cent of the shares par value (US$1.41), totalling US$64,977,080.

"We will continue to improve efficiency and optimise operations focusing on our core business and relying on outsourcing for non-core services,” stated CEO of Paltel Group Ammar Aker.

“Our operational indicators demonstrate more promise to enhancing our mobile operation, increasing our fixed line subscriber base and forging ahead with added attention to data and broadband communications. That is the future direction of the industry, and our Group is positioned to sail confidently into the new market horizons.”