Q-Tel seeks market expansion
The director general of the Qatari Telecommunication Company (Q-Tel), Hamad Bin Abdullah Al-Attiya, stated that the company had drafted a new strategy aiming to compete in both local and regional markets. According to Al-Sharq Al-Awsat daily, Q-Tel intends to outstand itself through improved customer services.
Al-Attiya said that the company's total revenues had grown to 1.323 billion Qatari riyals in 2000. Its net operating income hit QR 224.5 million during that time.
Q-Tel’s strong financial position during year 2000, brought the company’s board of directors to issue a recommendation in mid-February, for the distribution of annual dividends profits at the rate of 51 percent from the nominal value of each share— 5.1 Qatari riyals per stock. This dividend level implies an 11 percent growth compared with 1999
QTEL has recently introduced a number of new services including prepaid telephone cards and a short messaging service (SMS), which boosted the use of mobile telephones in Qatar.
According to Al-Attiya, the number of mobile telephone subscribers in Qatar grew to 121,000 in 2000—up from 81,000 the previous year—constituting a 47 percent growth.
The Qatari government holds a 55-percent stake in Q-Tel, the country’s telecom sector monopoly, while the balance is publicly traded on the Doha stock market. — (MEBG-Albawaba)
© 2001 Mena Report (www.menareport.com)