ID :
165195
Wed, 03/02/2011 - 08:32
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Shortlink :
https://oananews.org//node/165195
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Qtel Posts QR2.9 billion Profit in 2010
Doha, March 01 (QNA) - Qatar Telecom. (Qtel) announced this evening that it has posted a full year net profit of QR2.9 billion in 2010, up 2.2% on the previous year.
Qtel, which operates in some 17 countries, earned QR27.2 billion last year compared with QR24 billion in 2009: an increase of 13.1%, the Company said in a press release.
The group s consolidated customer base stood at 74.1 million in December last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) in 2010 was also strong, increasing 11% over the year to QR12.5 billion compared with QR11.2 billion in 2009.
Earnings per share (EPS) for 12 months ended in December grew 2.2% to QR19.69 against QR19.26 in 2009.
Qtel said the performance in Qatar and Indonesia was good in 2010.
At the end of 2010, Qtel had 2.4 million customers and revenue of QR5.4 billion in Qatar.
Indosat, a Qtel subsidiary in Indonesia, "continued to make progress in 2010 as its transforms its business: successfully implementing a value-driven strategy, solidifying its cellular market share, and laying the technological foundations necessary to maintain this progress in future years. Indosat s total subscriber base stood at 44.8mn in December last year, Qtel said.
Commenting on the results, Qtel Group chairman HE Sheikh Abdullah bin Mohammad bin Saud al-Thani said, "In 2010, we delivered a strong operational and financial performance to set the foundations for the ongoing development of our company. We have successfully consolidated our operations, defended our positions in mature markets and opened new opportunities in growth markets. The success of our strategy is demonstrated by our strong growth of revenue, EBITDA and growth in net profit attributable to Qtel shareholders.
"We have now successfully completed the IPOs of our operations in Oman and Palestine and received continued excellent support from the international capital markets and banking community. Most importantly, we have positioned the company to leverage greater value from cost optimisation and innovation across the Qtel Group.
The increased scale of our operations enables us to pursue innovation-based partnerships that deliver new and in-demand services to customers across our footprint, and to extract full value from our network and relationships.
Qtel Group CEO Dr Nasser Marafiah said, "In 2010, we concentrated on in-market opportunities to drive organic growth, and have been rewarded with continued value from mature markets and positive growth from our presence in emerging markets.
" Forward-looking capital investment and an enhanced portfolio of services have also delivered positive returns and position us well for the future. We have consolidated our market position in key markets such as Qatar and Kuwait through innovation and product diversification. At the same time, we have been able to extract value and increase revenue in growth markets like Iraq and Algeria.
"Looking ahead, we have made important steps towards taking a leadership role in the provision of Broadband services across the dynamic markets of the Middle East, North Africa and Asia." QR5 per share dividend recommended Qtel s board of directors has recommended the distribution of a cash dividend of 50% of the nominal share value (QR5 per share) and bonus shares of 20% of share capital (1 share for every 5 shares) to its shareholders.
Qtel, which operates in some 17 countries, earned QR27.2 billion last year compared with QR24 billion in 2009: an increase of 13.1%, the Company said in a press release.
The group s consolidated customer base stood at 74.1 million in December last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) in 2010 was also strong, increasing 11% over the year to QR12.5 billion compared with QR11.2 billion in 2009.
Earnings per share (EPS) for 12 months ended in December grew 2.2% to QR19.69 against QR19.26 in 2009.
Qtel said the performance in Qatar and Indonesia was good in 2010.
At the end of 2010, Qtel had 2.4 million customers and revenue of QR5.4 billion in Qatar.
Indosat, a Qtel subsidiary in Indonesia, "continued to make progress in 2010 as its transforms its business: successfully implementing a value-driven strategy, solidifying its cellular market share, and laying the technological foundations necessary to maintain this progress in future years. Indosat s total subscriber base stood at 44.8mn in December last year, Qtel said.
Commenting on the results, Qtel Group chairman HE Sheikh Abdullah bin Mohammad bin Saud al-Thani said, "In 2010, we delivered a strong operational and financial performance to set the foundations for the ongoing development of our company. We have successfully consolidated our operations, defended our positions in mature markets and opened new opportunities in growth markets. The success of our strategy is demonstrated by our strong growth of revenue, EBITDA and growth in net profit attributable to Qtel shareholders.
"We have now successfully completed the IPOs of our operations in Oman and Palestine and received continued excellent support from the international capital markets and banking community. Most importantly, we have positioned the company to leverage greater value from cost optimisation and innovation across the Qtel Group.
The increased scale of our operations enables us to pursue innovation-based partnerships that deliver new and in-demand services to customers across our footprint, and to extract full value from our network and relationships.
Qtel Group CEO Dr Nasser Marafiah said, "In 2010, we concentrated on in-market opportunities to drive organic growth, and have been rewarded with continued value from mature markets and positive growth from our presence in emerging markets.
" Forward-looking capital investment and an enhanced portfolio of services have also delivered positive returns and position us well for the future. We have consolidated our market position in key markets such as Qatar and Kuwait through innovation and product diversification. At the same time, we have been able to extract value and increase revenue in growth markets like Iraq and Algeria.
"Looking ahead, we have made important steps towards taking a leadership role in the provision of Broadband services across the dynamic markets of the Middle East, North Africa and Asia." QR5 per share dividend recommended Qtel s board of directors has recommended the distribution of a cash dividend of 50% of the nominal share value (QR5 per share) and bonus shares of 20% of share capital (1 share for every 5 shares) to its shareholders.
