Qtel Posts 2009 Record Profit of QAR 2.8 Billion, Declares a Cash Dividend of 70% of Share Face Value

Qatar Telecom (Qtel) announced that 2009 net profit reached a record QAR 2.8 billion, a 21 percent year-on-year growth, as the Group’s consolidated customer base reached 60.5 million (FY 2008: 57.5 million).
Full year Group revenue increased 18.2 percent to end 2009 at QAR 24.0 billion (FY 2008: QAR 20.3 billion). Earnings per Share (EPS) for 2009 grew 7.2 percent to QAR 18.95 (FY 2008: QAR 17.68)
The company’s strategy of diversification delivered a number of significant benefits, with the Qtel Group becoming the largest telecommunications provider in the Middle East North Africa region by number of operations in 2009. Over 76 percent of Group revenues were generated outside Qatar in 2009, the highest ratio in the company’s history.
“Our diversified operations have delivered strong returns and enabled us to thrive in a highly competitive and challenging environment. The Qtel Group successfully delivered 18.2 percent revenue growth and 20.5 percent net profit growth over the 12 months by preserving value in core markets, and through ongoing expansion of operations across regional markets,” said His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the Qtel Group.
Key highlights of the year include significant customer growth in Iraq, Algeria and Indonesia, the successful launch of Wataniya Palestine and wi-tribe Pakistan and a solid response to the initial competitive challenges associated with new entrants in Qatar and Kuwait.