Vodafone Qatar Revenue Now Growing Faster Than its Customer Base
Published on: 30th Jan 2014
By: Ian Mansfield
Vodafone Qatar has reported that it increased its customer base by over a quarter during the last nine months of last year while growing its revenue by nearly a third at the same time.
For the nine months to the end of December, the company grew its customer base by 27% to 1.27 million, while revenue was up by 31 percent to QAR1.43 billion (USD392 million). EBITDA reached QAR344 million, an 89% improvement year-on-year.
Mobile average revenue per user (ARPU) increased to QAR125; this is growth of 3.6% year-on-year.
The company generated distributable profits of QAR89 million (USD24 million), versus a loss of QAR25 million a year ago.
Vodafone Qatar Chairman, H.E Dr Sheikh Khalid Bin Thani Al Thani commented , "Generating positive Distributable Profits is a key target of ours and should give shareholders confidence, that the business is moving in the right direction."
Vodafone Qatar is a joint venture between Vodafone and the Qatar Foundation and has 55% of its shares listed on the local stock market. Vodafone Group's effective interest in the company in 23%.