GEC NEWS WIREOoredoo revealed results for the six months ended 30 June 2016. The Operational highlights H1 2016 include- Revenue at QAR 16 billion: local currency growth in Qatar, Oman, Indonesia, Myanmar, Algeria, Kuwait, Palestine and the Maldives. Excluding Foreign Exchange translation impact, revenues would have increased 2%, compared to the reported decline of 1%, Group EBITDA stable at QAR 6.5 billion with an improved EBITDA margin of 41% compared to last year indicating a continued improvement in operational performance from Q1 2016. Excluding Foreign Exchange translation impact. Continued strong data growth from consumer and enterprise customers: data revenue increased to 39% of Group revenue (H1 2015: 34%). Ooredoo Kuwait finalized the acquisition of “FASTtelco”, to offer advanced fixed broadband and mobile services in exchange for KD 11 million in March 2016. B2B revenue increased by 5% to QAR 2.8 billion reflecting Ooredoo’s ongoing investment in services for business customers.
H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chairman of Ooredoo, said: “This has been a good first half of the year for Ooredoo. We are successfully implementing our digital strategy across our markets, making world class communication services available to our consumer and enterprise customers.”
H.E. Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo said: “We have seen some good operational improvements across our businesses during the first six months of the year. Both revenue and EBITDA were robust for the period at QAR 16 billion and QAR 6.5 billion respectively.”
