Qatari Qtel Posts H1 Profit

Qatar Telecom (Qtel) has reported a 9% rise in its first half net profit to US$489 million with its overseas operations strengthening in terms of revenues and earnings. The group’s consolidated revenues rose 14% to US$3 billion and Ebitda (earnings before interest taxes depreciation and amortisation) by 15% toUS$1.7 billion.

“Qtel has demonstrated that we can turn challenging investments and market situations to our advantage, as we continue to deliver shareholder value. “Our performance in core territories such as Kuwait and Qatar shows that we are capable of driving progress in competitive markets, and our performance in Indonesia continues to improve, as we unlock the potential of this key investment in Southeast Asia,” said Qtel group chairman Sheikh Abdullah bin Saud al-Thani. - Gulf Times