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25-08-2008, 09:19 PM
Qatar Telecom May Post 50% Rise in Quarterly Net: Week Ahead
By Arif Sharif
Aug. 17 (Bloomberg) -- Qatar Telecom QSC, which provides phone services in 16 countries, may this week report second- quarter profit jumped by as much as half due to gains by its Iraq unit and more subscribers in Oman and Algeria.
Net income at Qatar Telecom, known as Qtel, may rise 50 percent to 618 million riyals ($169.7 million), according to Global Investment House KSCC, a Kuwaiti investment bank. Analysts at ING Bank NV estimate profit in the three months ended June 30 grew 28 percent to 529 million riyals, according to a July report.
Qtel's revenue will grow ``mainly due to the consolidation of Asia Cell's Iraq operations and a more than 50 percent growth in subscriber base in Oman and Algeria,'' Sarwat Fatima Hussain, a telecoms analyst at ING Bank, said in the report. ``Due to higher financial cost'' not all of that revenue increase will flow to the bottom line, she said.
Phone companies in the Persian Gulf are:eek5: expanding abroad to boost sales as domestic markets mature and competition grows. Qtel bought 41 percent of PT Indosat, Indonesia's second-biggest mobile phone operator, in June from Asia Mobile Holdings Pte, the Qatari company's venture with Singapore Technologies Telemedia Pte. The $1.8 billion buyout boosted its subscribers to 44 million.
It's unclear whether Qtel will include Indosat's earnings in second-quarter results, ING said. If it does, profit will grow 35 percent, based on Indosat's consensus earnings estimates.
المصدر
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amg7GhLXGfK8
By Arif Sharif
Aug. 17 (Bloomberg) -- Qatar Telecom QSC, which provides phone services in 16 countries, may this week report second- quarter profit jumped by as much as half due to gains by its Iraq unit and more subscribers in Oman and Algeria.
Net income at Qatar Telecom, known as Qtel, may rise 50 percent to 618 million riyals ($169.7 million), according to Global Investment House KSCC, a Kuwaiti investment bank. Analysts at ING Bank NV estimate profit in the three months ended June 30 grew 28 percent to 529 million riyals, according to a July report.
Qtel's revenue will grow ``mainly due to the consolidation of Asia Cell's Iraq operations and a more than 50 percent growth in subscriber base in Oman and Algeria,'' Sarwat Fatima Hussain, a telecoms analyst at ING Bank, said in the report. ``Due to higher financial cost'' not all of that revenue increase will flow to the bottom line, she said.
Phone companies in the Persian Gulf are:eek5: expanding abroad to boost sales as domestic markets mature and competition grows. Qtel bought 41 percent of PT Indosat, Indonesia's second-biggest mobile phone operator, in June from Asia Mobile Holdings Pte, the Qatari company's venture with Singapore Technologies Telemedia Pte. The $1.8 billion buyout boosted its subscribers to 44 million.
It's unclear whether Qtel will include Indosat's earnings in second-quarter results, ING said. If it does, profit will grow 35 percent, based on Indosat's consensus earnings estimates.
المصدر
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amg7GhLXGfK8