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FinancialNews
30-07-19
22 percent boost in Ooredoo net profit
(MENAFN) Net profit of Ooredoo Group registered a 22 percent surge from January to June 2019 as a result of solid performance by shareholders.
During the first half of the year, Ooredoo Group posted a 4 percent drop in its revenues due to an industry wide shift from voice services to data services among other factors.
"We are making excellent progress with our digital strategy, whilst effectively managing our costs and overheads to support the growth of our business and long-term shareholder value generation," stated Chairman of Ooredoo Sheikh Abdulla bin Mohammed bin Saud Al Thani.
Al Thani added: "Ooredoo Group reported a solid set of results for the first half of the year with revenue of QR14.5bn and a 22 percent increase in net profit despite the pressure in the operating environment in our markets and industry challenges associated with the decline in voice revenues."
MENAFN3007201900450000ID1098822638
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