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Ooredoo posts RO8mn profit in H1; postpaid subscriptions up 62 per cent

31 Jul 2021 By ONA

Ooredoo Oman has reported a net profit of RO8mn for the six months period ended June 30, 2021 compared to RO10.1mn in the same period of last year, an year-on-year decrease of 20.8 per cent.

The company’s revenue for the first half of 2021 decreased by 5.1 per cent to RO126.5mn compared with RO133.3mn in the corresponding period of 2020.

‘The reduction is primarily driven by lower handset sales and decrease in prepaid mobile revenue,’ Ooredoo said in the company report submitted to the Muscat Stock Exchange.

Ooredoo noted that its mobile postpaid customer base grew by 61.7 per cent to 509,283 customers at the end of June 2021 compared to 315,040 customers a year ago.

On the other hand, mobile prepaid customer base increased by 1.2 per cent to 2,153,670 customers at the end of June 2021 compared to 2,128,438 customers a year ago.

Ooredoo’s fixed service customer base marginally decreased by 0.5 per cent to 171,368 customers at the end of June this year compared to 172,296 customers at the end of June 2020, mainly due to lower fixed wireless customer base.

Commenting on the financial results, Ooredoo Oman’s CEO Noor al Sulaiti said, “This quarter has been challenging due to the increasing competition and ongoing pandemic situation in the market. We continue to focus on our digital services, Shahry postpaid, Shababiah prepaid and home broadband services to keep customers connected.

“Our digital customer care, multi award-winning application and enhanced eShop give customers access to everything they need to work, study or conduct business, wherever they are in Oman.”

Noor said that Ooredoo’s 5G roll-out continues at a pace, adding, “With some fantastic offers and promotions, such as our 5G Super Data, we are seeing great take-up as we expand into more areas.”

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