Mubasher: Qatari-based telecom group Ooredoo has provided 4G network in 8 markets out of its 10 markets, CEO Saud bin Nasser Al Than
“We defended our market leadership position in our domestic market as well as in Tunisia and Iraq,” Al Than added.
The group’s positive performances in Iraq and Oman had offset market challenges and lower revenue in Indonesia and Algeria as well as a substantial Foreign Exchange (FX) loss in Myanmar, according to Ooredoo’s statement to Mubasher.
“In all our markets we have focused on empowering our customers and supporting the local national development agendas by providing fast, reliable and innovative connectivity solutions,” Al Than noted.
Around 45% of the company’s revenues are generated from its data and digital business, the statement showed.
Ooredoo Qatar revenues declined 6% to QAR 15.3 billion during the first half of 2018, compared to QAR 16.3 million in H1-17.
While net profits of the dual-listed company on both the Qatar Stock Exchange (QSE) and the Abu Dhabi Securities (ADX) declined 37.2% to QAR 688.92 million, from QAR 1.96 billion in H1-17.
It is worth noting that Ooredoo Qatar became the first operator in the world to launch a live 5G network on the 3.5GHz spectrum band.
By 11:51 am Qatar time, Ooredoo’s stock fell 4.85% at QAR 69.67.
