Qtel H1 revenue grows by 16.6%

Qatar Telecom (Qtel) on Sunday announced that group revenue increased by 16.6 per cent to QAR 15.4 billion (H1 2010: QAR 13.2 billion) during the first half ended June 30, 2011, driven by superior operational progress across the Group. The group’s consolidated customer base grew by 16.2 per cent to stand at 77.5 million (H12010: 66.7 million), while the Group’s EBITDA increased 15 per cent to QAR 7.2 billion (H12010: QAR 6.3 billion). EBITDA margin remained robust throughout the period at 47 per cent (H1 2010: 47 per cent). Net profit attributable to Qtel Shareholders increased by 16.7 per cent when normalized for a one-off favourable decision the royalty regime in Qatar in 2010 of QAR 554 million related to the period of 2007-2009. H1 2011 net profit Attributable to Qtel shareholders stood at QAR 1.4 billion. (H1 2010: QAR 1.8 billion).Highlights of the period included the acquisition of an additional shareholding in Tunisiana resulting in 100 per cent consolidation in Group results, and a successful public listing of Wataniya Mobile Palestine.Qatar Telecom (Qtel) provides a full range of telecommunications services in Qatar and across its presence in 17 countries. From / Gulf Today