Vodafone Qatar posts strong top-line growth in Q211

Vodafone Qatar posted a 65 per cent rise in its quarterly revenue of QR 290.6 million (US$79.7 million), while the quarterly profit before interest, tax, depreciation and amortisation (EBITDA) reached QR 31 million for the period to end-June.

Average revenue per user (ARPU) increased 11 per cent year-on-year to reach QR 116, while the subscriber base rose by 43 per cent to reach 761,000 mobile customers as at June 30.

The cellco has come under pressure from some shareholders to start paying dividends sooner than the company had planned.

There is currently no change from the dividend guidance outlined in Vodafone Qatar’s IPO prospectus, and the company still expects to pay dividends based on performance in the financial year ending March 31, 2013.

Vodafone Qatar is 23 per cent owned by Vodafone, 22 per cent by the Qatar Foundation, with 40 per cent floated on the stock exchange and 15 per cent held by government investors.