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Mon 30 Mar 2009 08:53 AM

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Qtel predicts 2009 profits to rise by up to 11%

Qatar's telecoms major also says it plans to invest up to $2bn this year in regulatory filing.

Qatar Telecommunications Co (Qtel) said on Monday it expected net profit in 2009 to rise 9-11 percent from the previous year and would invest as much as 7.3 billion riyals ($2.01 billion).

The firm has a capital expenditure programme of between 6.5 billion riyals to 7.3 billion riyals across its global operations, Qtel said in a regulatory filing.

Net income attributable to shareholders could increase in 2009 "in the range of 9 to 11 percent year-on-year," it said, adding that EBIDTA could rise 18-20 percent and revenues in the range of 20-22 percent, it said. (Reuters)

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