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Discuss this article (0 Comments)Omantel hopes to maintain profit level
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 04 August 2008
PROFIT CALL: Telecom firm Omantel hopes to maintain its 54 percent rise in profit this year. (Getty Images)
Oman Telecommunications Co's chief executive said on Monday he was "hopeful" the company would maintain a 54 percent profit rise this year as telephone users were expected to rise 10 percent.
The company, also known as Omantel, posted net profit of $192 million in the six months ended June 30, up 54.3 percent from the year-earlier period.
"We are hopeful to maintain the 54 percent profit growth level this year," Mohammed al-Wohaibi told Reuters from Muscat.
"The number of (mobile and fixed-line) users are expected to increase by around 9 to 10 percent."
The 48.8 percent rise in second-quarter profit was due to the increase in the number of fixed-line and mobile telephone customers and cost cuts, Wohaibi said. (Reuters)
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