Nawras announces 10% 1H revenue growth
Nawras has announced its financial results for the six months ended 30th June 2014. Total revenues for this period have increased by 10%, amounted to OMR 108.2 million ($281m) compared with OMR 98.4 million for the same period of 2013.
The company reported that the growth is driven by increases in both fixed and mobile data revenues as well as voice revenue offset by decrease in SMS revenue.
Net profit for the first half of 2014 was OMR 18.7 million compared with OMR 15.2 million in the same period of 2013.
The number of customers grew by 7.7%, reaching 2,472,497 at the end of the first half of 2014 compared to 2,295,722 for the same period of 2013.
According to NAwras, the fixed line service customer base grew by nearly 13.4% to 64,192 customers from 56,598 customers for the same period of 2013.
Year-on-year, mobile post-paid customer base also grew by 2.6% to 190, 531 customers compared with 185,705. In addition, year to date, mobile pre-paid customer base increased by 8 % to 2,217,774 customers compared to 2,053,419 customers.
Commenting on the results, Greg Young, CEO of Nawras said: “Nawras was able to grow revenue during the first half despite the ongoing challenges of the competitive environment. Revenue growth was driven by increases in both mobile and fixed.”
“Investment in our network continues to underpin the revenue performance enabling faster uploads and downloads and better quality of voice. Our turbocharging programming has greatly improved the network experience for customers in the south to Salalah and inland in the Governate of Ad Dakhiliyah. We continue to improve our 3G network northwards to Ibri, Dankh and Buraimi. We launched Home Broadband over LTE, and our 4G mobile use is growing each quarter,” he added.
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