Omantel’s subscriber base increases 7.4%

Muscat - 

Omantel’s domestic subscriber base grew 7.4 per cent during the nine months period ended September 30, 2017 compared to the same period a year ago.

Total domestic subscriber base (including mobile and fixed businesses) rose to 3.57mn (excluding mobile resellers) as of September 2017 compared to 3.32mn in the corresponding period of the previous year, Omantel said in its third quarter financial report submitted to the Muscat Securities Market on Wednesday.

Its total subscriber base including mobile resellers reached 4.74mn in September 2017.

Omantel’s mobile network market share (including mobile resellers) is estimated at 58.9 per cent with a revenue share of 59.4 per cent. Fixed telephone (post-paid and pre-paid) market share is estimated at 77.2 per cent with a revenue market share of 84.1 per cent.

Omantel’s group revenue rose three per cent to RO406.8mn for the first nine months of 2017 from RO394.8mn in the corresponding period of 2016.

Group net profit, however, fell 31.6 per cent to RO65mn for the first nine months of this year compared to RO95.1mn in the same period of 2016. The decrease in net profit was mainly due to an increase in royalty charges, which rose by 70.5 per cent compared to the corresponding period in 2016, Omantel said in its report.

The company said the execution of its ‘Omantel 3.0’ strategy remains the essential tool for Omantel to defend its position in the market and deal with the changing market dynamics.

‘Our focus is on maximising the share of wallet and value for customer, through excelling in customer experience as well as expanding in beyond the core services such as ICT solutions. This will assure we can further grow our position in the market. We continue to invest in our network to meet the increasing demand for data services and to enhance customer experience’, Omantel said.

It said the recent acquisition of a stake in Zain Group will enable Omantel to diversify its revenue sources and contribute to the creation of an added value to the shareholders of both companies.

The acquisition of Zain stake will provide opportunities for integration between the two companies as well as to find a strong platform to compete in the market and overcome the risks of being in a single market, Omantel added.

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