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- Bahrain All Share Index, Islamic Index close higher
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26/10/2017 09:17 AST
Ooredoo Oman reported a net profit of RO23.1mn for the nine months period ended September 30, 2017. This was 38.6 per cent lower compared with a net profit of RO37.6mn reported for the same period of the previous year.
'Net profit for 2017 is impacted by increase in royalty fee from seven per cent to 12 per cent, increase in income tax rate from 12 per cent to 15 per cent as well as higher depreciation cost due to investment in network modernisation', Ooredoo said in a disclosure filed with the Muscat Securities Market on Wednesday.
The company's revenues for the first nine months of 2017 grew by 1.2 per cent to RO204.3mn compared with RO201.9mn in 2016. The growth in revenues was driven by increases in both mobile and fixed data revenue, the company said.
Commenting on the results, Ian Dench, CEO of Ooredoo Oman, said, "We want our customers to enjoy the Internet. This quarter we started the most significant ever network upgrade in our history. With over 1,000 new 4G locations being added between June 2017 and first quarter of 2018, the upgrade will see our 4G coverage rise from 55 per cent to over 90 per cent of the population.
Our ongoing network upgrades and roll-out of our fibre for both homes and businesses also means that more customers across Oman receive a fantastic customer experience."
Muscat Daily
15/01/2016
Omani Qatari Telecommunications Company 'Ooredoo' has signed three new financing agreements with local and international banks worth $177 million (RO68 million).
The new funding will be
Trade Arabia
15/01/2016
Ooredoo has signed a deal with Oman Munitions Production Company (OMPC) to provide the high-profile government-owned company with a full suite of advanced business telecommunication solutions.
Trade Arabia
21/07/2015
Ooredoo Oman, the sultanate's No.2 telecom operator, reported a 16.2 per cent rise in second-quarter net profit on Tuesday.
The firm, majority-owned by Qatar's Ooredoo, made a net profit o
Trade Arabia
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15/05/2025
Ithmaar Bank, a Bahrain-based Islamic retail bank, reported profits for the first quarter of the year as it announced its financial results for the three-month period ended March 31.
Ithmaa
BNA
15/05/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has reported a profit of BD18.1 million ($48.2 million) for the first quarter of 2025, a drop of 25.9% year-over-year (YoY
Trade Arabia
15/05/2025
Indosat Ooredoo Hutchison is spearheading the development of sovereign AI to elevate Indonesia's economic trajectory, according to president director and CEO, Vikram Sinha.
"Indosat has a lar
Gulf Times
15/05/2025
Dukhan Bank has announced that Saad al-Kuwari has won the QR1,000,000 grand prize in the latest draw of Thara'a, the bank's Shariah-compliant savings account.
The draw was conducted under the
Gulf Times
15/05/2025
National Investments Company held its Ordinary AGM for the fiscal year ended December 31, 2024, and immediately following this, the Extraordinary General Assembly Meeting was convened on Wednesday, M
Kuwait Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia