Qatar Telecom profits up 16.2 percent in 2000
Qatar Telecom (Q-Tel) announced Friday, February 16, a 16.2 percent increase in net profit to 724.5 million riyals ($199 million) in 2000 from the previous year.
Q-Tel director Sheikh Abdullah bin Mohammad Al-Thani told the official QNA news agency that that revenue climbed to 1.324 billion riyals ($363.7 million) from 1.287 billion rials ($353.5 million).
The government holds a 55-percent stake in the company, which retains a monopoly on telecommunications in the Gulf Arab state, while the balance is publicly traded on the Doha stock market. — (AFP, Doha)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)