Qtel H1 2011 revenues up

Public listing of Wataniya and Tunisiana acquisition help progress.
Tunisiana, Wataniya, News, International News

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Qatar Telecom (Qtel) today announced that group revenue increased by 16.6 percent to QAR 15.4 billion (1H 2010: QAR 13.2 billion) during the first half ended 30 June 2011, driven by superior operational progress across the Group.

The Group’s consolidated customer base grew by 16.2 percent to stand at 77.5 million (1H 2010: 66.7 million), while the Group’s EBITDA increased 15 percent to QAR 7.2 billion (1H 2010: QAR 6.3 billion). EBITDA margin remained robust at 47 percent (1H 2010: 47 percent).

Net Profit Attributable to Qtel Shareholders increased by 16.7 percent when normalised for a one-off favourable decision on the royalty regime in Qatar in 2010 of QAR 554 million related to the period of 2007-2009. 1H 2011 Net Profit Attributable to Qtel Shareholders stood at QAR 1.4 billion. (1H 2010: QAR 1.8 billion).

Highlights of the period included the acquisition of an additional shareholding in Tunisiana resulting in 100 percent consolidation in Group results, and a successful public listing of Wataniya Mobile Palestine.

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