DOHA: Vodafone Qatar’s revenue for the nine-months to December 2012 grew by 20 percent year-on-year resulting in the company achieving positive quarterly distributable profits for the first time in its history.
“Having positive Distributable Profits has been a clear target for us and so achieving this milestone after only three years of operations is a great achievement for us all and should give our shareholders confidence that the business is moving in the right direction,” said Richard Daly (pictured above), Vodafone Qatar’s Chief Executive Officer, while announcing the company’s financial results for the nine months ended December 31, 2012.
Vodafone’s mobile customers increased 26 percent to 1,004,767 during the nine months compared to the corresponding period in 2011.
The average revenue per user increased to QR121; this is growth of 8.4 percent year-on-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) reached QR182m for the nine months to December 31, 2012; this is an improvement of 78 percent year-on-year .
Distributable Profits of QR25m for the nine months means an improvement of 56 percent compared to the same period last year.
“The third quarter (ending December) is seasonally very strong for Vodafone Qatar. Achieving one million customers enabled a 15 percent improvement in revenue over the quarter, and with continued focus on costs, our EBITDA profits grew 56 percent. This achievement helped us to reach the crucial milestone of generating our first ever quarter of positive Distributable Profits,” said Steve Walters, Vodafone Qatar’s Chief Financial Officer. The Peninsula
