Jordan Telecom posts 15 percent growth in net income for 2003
The Jordan Telecom (JT) Group reported a 15 percent increase in consolidated net income for 2003 reaching 34.6 million Jordanian dinars ($48 million) compared to JD 30.1 million for 2002.
By the end of 2003, group revenues revealed a growth of two percent or JD 5.8 million, compared to the same period last year, thus reaching JD 309.3 million, a press release revealed.
JT revenues consist mainly of fixed-line earnings, which represent 76 percent of group revenues, and Mobile business unit MobileCom revenues, which represent 23 percent of group revenues.
Last year’s growth is attributed mainly to MobileCom as their revenues increased by 35 percent due to an increase of 12.3 percent in their customer base to reach 356,000 customers by the end of 2003 and an increase of five percent in Average Revenue Per User (ARPU).
Fixed-line revenues faced a slight decrease of five percent by the end of 2003 compared to 2002. The performance of the fixed line industry in Jordan has been in line with international trends, especially with the boom in the mobile telephony market and the decline of international interconnection rates and international calls tariff.
Jordan Telecom, established in 1971, is the provider of Jordan’s only fixed line network, an ISP, a GSM operator and Internet content delivery services. Jordan Telecom has the exclusivity on fixed line voice and data transport until end of 2004 and provides a fixed line network which forms the backbone of Jordan’s communication services. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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