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Nawras revenue rises in Q4

February 1, 2014

Times News Service

Muscat : Omani Qatari Telecommunications Company (Nawras) announced preliminary unaudited financial results for the year ended 31 December 2013 . The telecom provider said that its revenue increased by 2.7 per cent in fourth quarter (Q4) of 2013 to OMR52.8 million , from OMR51.4 million for the same period in 2012. Full year revenue Full year revenue increased by 4.4 per cent to OMR202.0 million compared to OMR193.5 million in 2012. The increase in revenue is driven by growth in mobile and fixed data revenues, offset partially by decline in SMS. Ebitda achieved in Q4 2013 was OMR27.4 million compared to OMR26.2 million in the same period last year, an increase of 4.6 per cent. Total net profit achieved for year 2013 was OMR33.1 million compared to OMR37.0 million in 2012, a decline of 10.5 per cent. Despite higher Ebitda, net profit was affected by higher depreciation due to the investment in network modernisation and expansion. Total customers grew by 9.3 per cent or 203,797 to 2,396,826 by end of 2013 compared to 2,193,029 for year 2012. Commenting on the results Sayyid Amjad Al Busaidi , Chairman of Nawras said: "During 2013, Nawras has successfully continued to make big performance achievements despite the highly competitive market environment. A number of global companies are already retaining Nawras to meet their sophisticated data and telecommunications needs, a trend that we expect to grow in the years ahead as more companies are attracted to Oman on account of its political stability, geographical position and robust economy." "On behalf of the Board of Directors, I offer my gratitude to our shareholders, customers and partners for their support during the year. The company's achievements would not be possible without these collaborative partnerships, which capitalise on market opportunities through a shared desire for success," he added. Nawras CEO Greg Young said, "We have been successful in increasing our revenues and total number of customers. This achievement, supported by our significant investment in upgrading our network which demonstrates our investment strategies are sound and returning results. We will continue to future-proof the Nawras network, adding additional sites and Turbocharging existing base stations to provide a second-to-none customer experience across the country, this will continue in 2014 to all main cities of Oman ."

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Source: Times of Oman

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