Qatar Telecom (Q-Tel) recorded a 12 percent revenue increase in 2002 from 153.7 million Qatari riyals ($42.2 million) in 2001 to QR 172 million, the highest revenue than any previous year. Net Profit for the year rose to QR 956 million from QR 863 million, an increase of over 11 percent.
According to the company, the increase was driven predominantly by Mobile and that trend is expected to continue. Both Mobile and Data enjoyed a lucrative year despite price cuts with Mobile increasing its subscriber base by 50 percent. Existing customers continued to show high use of mobiles, making Qatar one of the countries in the world with the highest amount spent per customer on mobile.
This year's capital investment exceeded last year's by 36 percent showing a total of QR 259 million spent on Mobile and Fixed line infrastructure. Mobile communications underwent growth and was the year's most important development.
During the year, Q-Tel attracted 88,774 new mobile subscribers, expanding its customer base to 266,703. The company attracted 907,300 new fixed-line subscribers, expanding its fixed line customer base to 176,519, an increase of five percent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
