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Omantel profits record a decline despite rise in revenue

Atheer – External Sources

Oman Telecommunications Company (Omantel) has announced its unaudited financial results for the year ending the 31st of December 2017.

This announcement includes the financial results obtained from the acquisition of Zain Group for the period from the 15th of November to the 31st of December.

The group’s revenues increased by 44.7% to 751.7 million Omani Rials, having stood at 519.3 million Omani Rials over the corresponding period of 2016. This growth was mainly due to revenues from Zain Group.

Omantel’s net profits after tax were 106.8 million Omani Rials, compared to 115.8 million Omani Rials, representing a decline of 7.8%.

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