We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Thu 25 Jul 2013 11:07 AM

Font Size

- Aa +

Vodafone Qatar Q1 net loss narrows, new chairman named

Quarterly revenue up 31 percent on same three months a year ago

Vodafone Qatar Q1 net loss narrows, new chairman named

Vodafone Qatar, an affiliate of Vodafone Group, said on Thursday its first-quarter loss narrowed and named a new chairman of its board.

Vodafone, which ended Qatar Telecom's (Qtel) domestic monopoly in 2009, made a first-quarter net loss of 85 million riyals ($23.3 million) in the three months to June 30. That compares with a loss of 118.3 million riyals in the year-earlier period. The operator's financial year starts on April 1.

Quarterly revenue was 459 million riyals, up 31 percent on the same three months a year ago, according to the bourse statement.

Two analysts polled by Reuters forecast Vodafone Qatar would make a quarterly loss of 67 million and 65.5 million riyals.

Vodafone Qatar said it had named Sheikh Khalid bin Thani bin Abdullah al-Thani as its new chairman of the board. He replaces Sheikh Abdulrahman bin Saud Al-Thani, who had chaired the company since June 2008.

Vodafone, which owns 23 percent of Vodafone Qatar, in November extended a contract to manage its Qatari affiliate until 2018.

Vodafone had 1.146 million mobile customers as of June 30, up 31 percent from a year earlier.

First-quarter average revenue per user (ARPU), a key metric for the telecom sector, was stable at 123 riyals, the statement added.

Arabian Business: why we're going behind a paywall

For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.