Q-Tel Q-1 Profits on the Increase
The Qatar Telecommunications Corporation (Q-Tel) has maintained its growth momentum through the first quarter of 2000. During this period, its net profits rose by 15 percent compared to the first quarter of 1999. Speaking to al Watan daily, Sheikh Abdallah ben Muhammad ben Saud al-Thani, Q-Tel's chairman of the board, stated that the firm enjoys an adequate financial standing that allows it to implement important projects. Topping these projects are the expansion of the GSM and Internet networks, and introduction of the multi-video distribution system (MVDS).
Q-Tel's revenues increased by 4.1 percent during the first three months of this year versus the same period of 1999. In Q-1/2000, Q-Tel's total revenues amounted to Q R325 million. Revenues from fixed line telephones rose slightly, despite a 2.5 percent growth in the number of subscribers from 151,509 to over 155,000. International traffic also soared by 17 percent, out of which outgoing overseas calls (mainly to Arab Gulf states and other Arab countries) posted an increase of 16 percent, while incoming calls rose by 19 percent.
Revenues from mobile phones boomed by 22 percent during the first quarter of 2000, a result of the substantial 32 percent spurt in the number of subscribers from about 63,000 in the first quarter of 1999 to over 84,000 by the end of March 2000.
Revenues from commercial services were similar to the corresponding period of 1999. However, a slowdown was noted in the demand for Qatar Cable Vision service, as most of the subscribers are awaiting the launch of MVDS, which is planned to the second quarter of the current year.
Meanwhile, Q-Tel's capital expenditures on real estate and equipment reached QR 14.7 million during Q-1. Most of these outlays were directed to the development of the fixed and mobile phone networks. (QR3.64=$1) (albawaba.com staff).
© 2000 Mena Report (www.menareport.com)