By: Eslam Salem
Doha – Mubasher: Ooredoo’s Deputy Chief Executive Officer, Waleed Al-Sayed, expected the company’s business growth in the Qatari market to continue at a range between 7% and 10% during 2016.
“The Qatari market is promising, we will achieve our goals in it thanks to the country’s investments in the infrastructure, and upcoming events like World Cup 2022,” Al-Sayed told Mubasher after the company’s ordinary general meeting (OGM) on Sunday.
“However, growing in other markets depends on circumstances of each country,” he added.
Ooredoo, listed in Qatar Stock Exchange (QSE) and Abu Dhabi Securities Exchange (ADX), operates in Qatar, Kuwait, Oman, Indonesia, Tunisia, Maldives, Iraq, Algeria and Palestine.
“We are not seeking any acquisitions in the upcoming three years, until we have a golden chance that makes us change our mind. But now, we are only working on boosting and developing our current investments,” the deputy CEO added.
Ooredoo’s shareholders agreed yesterday on distributing cash dividends at 30% or QAR 3 ($0.82) per share for the fiscal year 2015.
Ooredoo’s profits declined last year by 0.75% to QAR 2.118 billion ($581.68 million) from QAR 2.134 billion ($586.078 million) in 2014.
Translated by: Elwy el-Manzalawy
