Ooredoo's Yearly Net Profit Up 13 Percent

Doha,March 03 (QNA) - Ooredoo, formerly known as Qtel Group ("Ooredoo" or the "Group" ) announced on Sunday results for the twelve months ended 31 December 2012, demonstrating continued strong financial growth driven by a strategic focus on broadband and data usage in key markets. The group's revenue grew by 6.2% driven by healthy increases in Iraq, Algeria, Qatar and Indonesia supported by a stable performance by Nawras. The past twelve months has seen Ooredoo make further strong progress operationally, financially and technologically. Fuelled by a concerted focus on rapidly emerging revenue streams, such as fixed / mobile broadband and higher value data services, Group revenue grew by 6.2 percent year-on-year to QAR 33.7 billion, it said. Net profit attributable to Ooredoo shareholders rose to QAR 2.9 billion, a 13 percent year-on-year increase. Commenting on the results, Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of Ooredoo said "today s record results demonstrate that we are ready to take our company to the next level. We have delivered record revenue and are seeing on-going growth in some of the most important sectors for the future, such as mobile data and broadband services. At the heart of this development, we remain focused on the needs and aspirations of our customers, and believe we are better placed than ever to stimulate human growth across our markets." "By unifying our companies under our new brand, Ooredoo, we can leverage our combined resources to serve customers and deliver for shareholders.On behalf of the Board of Directors, I am pleased to recommend to the General Assembly the distribution of a cash dividend of 50 percent of the nominal share value (QAR 5 per share),'' he said. Also commenting on the results Dr. Nasser Marafih, Group Chief Executive Officer of Ooredoo said "as a combined and united team, we are improving the customer experience in all areas. Key milestones in technological and network enhancements, such as the introduction of 4G services and the transition from 2G to 3G across key markets, have been achieved in 2012". "We are also working towards greater customer intimacy, getting closer to our customers wants and needs than ever before, which in turn will increase our value proposition. As Ooredoo, we have a young, exciting brand that reflects the aspirations of our customers we will continue to deliver on their aspirations now and in the future", he added. (QNA)