Qatari telecom operator first quarter profits at QR1.704bn

Qatari telecom operator Ooredoo reported Wednesday profits of QR1.704 billion for the first half of 2014, compared to QR1.731 billion it made in the same period of 2013.
Earnings per share were QR5.32, compared to QR5.41of the first period of 2013. Income declined by 3% in the first half of 2014. Mainly due to declines in the markets of Indonesia, Kuwait and Iraq that saw political instability. That performance was balanced by strong displays in Qatar, Oman and Algeria.
The number of Ooredoo customers increased 2% to reach 93.9 million customers, as the telecom giant look to expand its market. HE Chairman of Ooredoo Sheikh Abdullah bin Mohammed bin Saud Al-Thani said that the company made strong revenues in the first half of 2014, despite the many challenges facing some of the company's markets.
He added that the company will continue to invest in broadband networks in its market to change the lives of its client extending from Algeria to Myanmar.