Omantel profits up by 29.6%

A press statement on Sunday said the group's net profit after tax (including WorldCall) in the third quarter of 2008 amounted to OR106.9m, compared with OR82.6m in 2007.

The company achieved an increase in revenues by 16.7% hitting OR314.5m, compared with OR269.5m for the same period last year, according to the statement.

The operation expenses during the third quarter of this year reached OR192.3m, compared with OR176.7m, an increase of 8.8% from last year.

Dr. Mohamed bin Ali Al Wohaibi, Omantel CEO, said:

"The increase in the company's profits during the third quarter was the result of efforts made by the company's management to promote its services to customers, to realize their aspirations in keeping abreast of the latest technology in the communications sector and to spread its services throughout the Sultanate."

He pointed out that the company is progressing towards pushing the communications sector into broad prospects through the provision of new services that conform to local market and enhance the competitive environment among other operators in the Sultanate.

"The company's subscribers base is growing which demonstrates the loyalty of customers to the services it provides, especially in light of competition in the mobile services," he said. "The company is working to provide integrated communications solutions for customers, thus promoting communication and disseminating services provided by the company on a steady basis."

Dr. Mohamed stressed that the company's investments in World Call are successful, confirming the success of the company's plans for expansion in a number of regions, where successful investment opportunities are found in the telecommunications sector.

Dr. Mohamed concluded that Omantel welcomes the entry of the second operator of fixed integrated telecommunications services in the Sultanate and the company is looking forward to work along with the new operator in developing the telecom services in the Sultanate.