ArabianBusiness.com - Middle East Business News
Wednesday, 25 November 2009 23:02 UAE time

YOUR DIRECTORY /

| Share |

Omantel misses forecasts with 5.8% profit drop

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 02 November 2008
FORECASTS MISSED: Omantel posted a 5.8 percent drop in third quarter profit. (Getty Images)
FORECASTS MISSED: Omantel posted a 5.8 percent drop in third quarter profit. (Getty Images)

Omani telecom Omantel missed most analysts' forecasts with a 5.8 percent decline in third-quarter profit to 32.10 million rials ($83.38 million).

The company made 106.90 million rials in the nine months ended Sept. 30, compared with 82.60 million rials in the same period a year earlier, it said in a statement on Sunday, without giving quarterly data.

Newswire Reuters calculated quarterly data based on earlier financial statements.

Story continues below ↓
advertisement

Analysts' forecasts for Omantel's quarterly profit ranged from 31.9 million rials and 37.75 million rials in a Reuters net profit survey in September.

Omantel posted first-half net profit of 74.8 million rials and 34.09 million rials in the third quarter of 2007. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST TECHNOLOGY

  1. STC vows to honour free calls pledge
  2. Zain boss named CFO of the Year at Dubai awards
  3. Microsoft steps up UAE anti-piracy raids
  4. Yahoo! Maktoob aims to double users in two years
  5. Paltel says deal with Kuwait's Zain is off

TOP MIDDLE EAST BUSINESS STORIES

  1. Arab youth SMEs turn to family finance
  2. Shipping slump stops Bahrain's new port signing main liner
  3. Saudi, Dubai flights hit by toilet malfunction
  4. Al Jazeera wins TV rights for 2010 World Cup
  5. Emirates increases Amman, Doha services

ALSO IN MIDDLE EAST TECHNOLOGY

  1. Batelco fined $13.3m by Bahrain telecom watchdog
  2. Google and UAE oasis city reach online deal
  3. Gulf telcos sign up to new broadband cable deal
  4. du to invest $85m to improve mobile network
  5. STC vows to honour free calls pledge

LATEST MIDDLE EAST BUSINESS NEWS

  1. Education: Mubadala completes $1bn financing for uni project
  2. Banking & Finance: Deal sought on Dubai World, Nakheel debts
  3. Banking & Finance: Arab youth SMEs turn to family finance
  4. Banking & Finance: Dubai raises further $5bn in bond sale
  5. Transportation: Shipping slump stops Bahrain's new port signing main liner

SHARE PRICE CHECK

more ยป MIDDLE EAST MARKETS DATA

OTEL.MSM

Last Price:

1.30

-0.01-0.61%

25 Nov 2009 09:00 GMT
(Market Closed)

RELATED STORIES

Oman Telecommunications Company (Omantel)
| 62 stories
  1. Omantel expects to take $24m hit in Q4
    12 Nov '09 | News
  2. Omantel's Q3 profit edges up 1.9% to $85.2m
    11 Nov '09 | News
  3. Omantel sees fixed line customers fall by 1.4%
    20 Sep '09 | News

RELATED LINKS

  1. Oman Telecommunications Company (Omantel)»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Oman Telecommunications Company (Omantel)

  2. Technology


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. EXCLUSIVE: PR guru says Dubai needs 'softer image' 07
    25 Nov ' 09 at 17:02
    Firstly, kudos to the AB guys for actually going ahead and publishing this, having lived here for almost 20 years, its very rare that...   More  »
  2. UAE banks need to improve customer service - poll 05
    25 Nov ' 09 at 14:54
    If you want the best way to avoid these harassing calls, follow these steps (this applies to Nokia phones):1) download the (free)...   More  »
  3. Dubai's Oct property sales value rises by 50% - official 05
    25 Nov ' 09 at 12:49
    From my own personal experience of buying and selling in recent months (June 09) and also being a real estate agent for the past 4...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY