Oman's Nawras Boosts Profits As It Expands Network Upgrades
Published on: 30th Apr 2014
By: Ian Mansfield
Oman's Nawras has reported its first quarter financials and announced improvements in both revenues and profits.
The company revenues grew by 9.4% to reach OMR 52.7 million. The growth is driven by increases in both fixed and mobile data revenue as well as international voice revenue offset by a decrease in SMS revenue.
Net profit for the quarter rose by 14.3 percent to OMR 8.8 million, due to improvement in EBITDAThe total number of customers grew by 8.9% in Q1 2014 to 2.43 million.
Commenting on the results, CEO, Greg Young said: news-29042014-en Our strong quarter-on-quarter results are bolstered by the confidence of our customers in the strength of our ongoing network modernization programme, which continues to enhance the customer experience. Careful management and optimization of costs, has contributed to the improving EBITDA result.
In related news, the company also announced that its network modernisation programme has now started in the south of the country.
All of these areas are being upgraded with access to doubled 3G+ network capacity, increased voice and data services and a significant improvement to the overall coverage in these areas.