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Omantel reveals preliminary financial results for H1 of 2014

Oman Telecommunications Company (Omantel) revealed its preliminary financial results for the period ended 30th June 2014, recording an increase in net profit by 9%, Times of Oman reported. The company’s revenue has reached OR 238.6m as of 30th June 2014 compared to OR239.3 of the corresponding period of 2013, while the net profit has reached OR66m compared to OR60.5m in 2013. Omantel domestic customer base has grown by 6.8% while the Group customer base has also grown by 5.5% year on year. Omantel said that growth was mainly driven by domestic retail revenues. However, a 28% decline in Wireless Local Loop (WTL) revenue impacted overall revenue growth at group level which is mainly due to reduction in WLL segment. Fixed line business recorded a growth of 10.5%, while revenues from mobile and fixed broadband services have recorded a growth of 28% and 35%, respectively.