Please wait...
GulfBase Live Support
- KFH continues pioneering efforts to promote financial literacy in Kuwait
- US Fed holds interest rates steady
- Asian stocks hit by fresh tech fears as gold retreats from peak
- CBO releases its Macroeconomic Stability Report 2025
- Vodafone Qatar to showcase next-generation digital solutions enabling business growth at Web Summit
- Al Rayan Bank holds Executive Fraud Risk Management Briefing
- Saudi-built AI takes on financial crime
- Closing Bell: Saudi main market closes the week in red at 11,382
- Bahrain, UAE central banks keep interest rates unchanged
- Saudi Steel Pipe unit inks supply contract with Subsea Seven
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
| Ticker | Price | Volume |
|---|
30/01/2026
Reinforcing its leadership in financial literacy and social responsibility, Kuwait Finance House (KFH) continues to spearhead the national "Diraya" awareness campaign. Launched by the Central Bank of
Kuwait Times
30/01/2026
Vodafone Qatar has announced its participation in Web Summit Qatar 2026, one of the world's leading technology conferences, taking place from 1-4 February 2026 at the Doha Exhibition and Convention C
The Peninsula
30/01/2026
As part of its annual Executive Fraud Risk Management Briefing, Al Rayan Bank brought together senior management to review evolving fraud risks and industry trends.
This briefing forms a key
The Peninsula
30/01/2026
Saudi Steel Pipe Company has announced that one of its consolidated subsidiaries, Global Pipe Company, has signed a significant supply contract with Subsea Seven (SS7), a global leader in offshore en
Trade Arabia
30/01/2026
Ghitha Holding delivered double-digit revenue growth and a sharp rise in profitability in 2025, supported by tighter execution across its food and agriculture businesses and a year marked by consolid
Gulfnews
Financial Information Co.
Saudi Arabia