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[June 19, 2014]
Vodafone Qatar revenue grows by 30pc [Peninsula, The (Qatar)]
(Peninsula, The (Qatar) Via Acquire Media NewsEdge) Vodafone Qatar's Chairman Sheikh Dr Khalid bin Thani Al Thani (centre) with other officials at the General Assembly.
DOHA: Vodafone Qatar recorded a solid growth in its revenue, up 30 percent to QR1.98bn for the year ended on March 31, 2014, compared to the same period a year ago. The outstanding rate of growth was primarily due to the increase in mobile revenues. The company's share of mobile revenues in Qatar increased to 33.6 per cent by the end of the financial year, compared to 30.4 per cent in the previous year.
Addressing the annual ordinary general assembly, Vodafone Qatar's Chairman Sheikh Dr Khalid bin Thani Al Thani said it was a strong year for Vodafone Qatar. "It is our pleasure to recommend to the General Assembly the payment of a maiden dividend to the company's shareholders of 17 dirhams per share." "Vodafone Qatar's growth in mobile revenues is attributed to the fact that 62 per cent of Qatar's population uses the company's services each month. On March 31, 2014, the number of our customers reached 1.327 million, an increase by 22 percent, representing 243,000 more subscribers over the previous year," Dr Khalid said. The growth in revenues and the highly- efficient financial management contributed to improving EBITDA profitability margin by 6 percentage points to reach 25 percent, reflecting an important year-on-year progress.
"In light of this great year of achievements, I must extend our deep gratitude to H H the Emir Sheikh Tamim bin Hamad Al Thani for his support and auspicious patronage." Kyle Whitehill, CEO, Vodafone Qatar said: "Our growth continues strongly in the consumer market. Over the course of the year, we focused on delivering innovative propositions to customers. We went ins search of great examples from other Vodafone markets, and then added a local dimension to all of our proposition to make sure they were relevant tour local customers." This year saw the launch of tow of the most innovative propositions to hit the Qatari market, Vodafone Red and Vodafone Falla that are packed with exclusive privileges, he said.
Vodafone Qatar continues its support of the government's initiative to provide high-speed broadband, advancing the digital infrastructure of Qatar. "Working with Qatar National Broadband Network, we have already brought high-speed Internet connectivity to many businesses and residential towers in West Bay as well as to Barwa City and the 8.5km Barwa Commercial avenue project. We have had a significant year in our enterprise area, delivering solutions to customers which have bought about business innovation whilst giving them total control. In 2014, we saw a significant increase in the number of local and international businesses choosing Vodafone as their telecommunications partner", Whitehill said.
The ordinary general assembly meeting, chaired by Dr Khalid approved all resolutions proposed on the agenda, including the Board of Directors recommendation of a dividend of 17 Dirhams per share. The Peninsula (c) 2014 Dar Al Sharq Press, Printing & Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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