Omantel posts RO82.6m in profits in 3rd quarter, with 36% growth

This compared to the Net Profit after Tax of RO60.625m of the corresponding period of year 2006, a growth of 36.2%.

He added that the the total group revenue as of September 2007 rose by 12.5% to RO269.510m compared to RO239.642m of the corresponding period of the previous year.

He further said that operating expenses increased by 4.9% to RO176.697m compared to RO168.584m for the same period of last year. He pointed out that the major increase in operating expenditure came from interconnection expenses, employee cost, operation and maintenance, depreciation, and commission.

HE the Omantel Board Chairman stressed that the reduction in Royalty charges to 7% announced by the government on 3rd October 2007 had significantly reduced the operating expenses by 6% and contributed for the increase in Net Profit by 13% as of September 2007.

HE has also indicated that the Earning per Share (EPS) as of September 2007 rose to RO0.110, which is 36.2% higher than the corresponding period of previous year.

As for the total subscriber base (all services), it has increased to 1.816 million as of September 2007 compared to 1.599 million of the corresponding period of previous year, a growth of 13.6%.

The number of subscribers of Oman Mobile Communications Company (Oman Mobile) increased to 1.43 million compared to 1.22 million during the same period of the previous year, i.e. a growth of 17.5%.

Total revenues of Oman mobile has achieved a marked growth of 12% to reach RO189.7m as of September 2007, compared to its revenues of RO169.6m during the same period in the previous year.

HE the Board Chairman of Omantel said the Group's "Competitive Readiness" strategy will be finalizing soon .