Qatar Telecom Profits up 15.5 Percent in First Half of 2000
Qatar Telecom (Q-Tel) on Saturday announced a 15.5 percent increase in net profit to 357.4 million riyals (98.2 million dollars) in the first six months of 2000, compared to the first half of last year.
Q-Tel, which has a monopoly on telecommunications in the Arab Gulf state, said in a statement that revenue climbed 5.5 percent over the same period to 662.6 million riyals (182 million dollars).
The government holds a 55-percent stake in the company, while 45 percent of its shares are publicly traded on the Doha stock market.
Q-Tel's profits in 1999 rose 13.3 percent to 623.5 million riyals (171 million dollars) - DOHA (AFP)
© 2000 Al Bawaba (www.albawaba.com)