DOHA: Vodafone Qatar recorded a total revenue of QR 2.1bn for the twelve months ended March 2016, down eight percent compared to the same period last year. The telecom company reported a net loss of QR466m for the year delivering a loss per share of QR0.55. The operator made a net loss of QR180m in the three months to March 31, representing a loss per share of QR0.21.
Vodafone Qatar’s mobile customer base increased 7 percent to 1,548,000 in March 2016, from a year ago. Mobile average revenue per user (ARPU) stood at QR 107;a 13 percent year-on year reduction.
Rashid Fahad Al-Naimi, the newly-appointed acting Chairman of the Company commented: “The past year has been difficult for the Company with the impact of structural changes in our industry, namely the increasing use of data at the expense of international voice traffic, and sustained price competition, particularly in the prepaid market, severely impacting our revenue performance. Meanwhile, our cost base has increased in line with the growing scale of our business operations, collectively leading to a reduction in earnings. In light of these results, the Company has performed a review of its cost base to ensure we sustain our margins in the future. As a result, we recently took the difficult decision to reduce our workforce by approximately 10% and write-off various non-performing assets. Unfortunately, the Company is not in a position to recommend a dividend for the fiscal year.”
Despite the difficult trading conditions, Vodafone Qatar has taken important steps to strengthen its operations and network infrastructure to adapt to the developing market and be better positioned to deliver long term returns. We remain confident in the potential of the Qatari telecommunications market, investing QR 396m during the year to enhance our network infrastructure and expand coverage, he said.
Over the last two years, the company has delivered a comprehensive network modernization program, spending nearly QR 1bn in total. Today, Vodafone Qatar’s network is stronger than ever and has achieved “Best in Test” in a technical audit conducted by a third party in April 2016 endorsing our first-rate network performance in Qatar. Similar efforts are underway to deliver a matching superior customer experience. We look to the future with confidence and optimism that the market is showing signs of recovery. We believe the Company now possesses the necessary quality infrastructure, clear direction, and experienced leadership to deliver value for our shareholders.
The company is focused on its mission to deliver innovative products and services and exceptional customer experience.
The Peninsula
DOHA: Vodafone Qatar recorded a total revenue of QR 2.1bn for the twelve months ended March 2016, down eight percent compared to the same period last year. The telecom company reported a net loss of QR466m for the year delivering a loss per share of QR0.55. The operator made a net loss of QR180m in the three months to March 31, representing a loss per share of QR0.21.
Vodafone Qatar’s mobile customer base increased 7 percent to 1,548,000 in March 2016, from a year ago. Mobile average revenue per user (ARPU) stood at QR 107;a 13 percent year-on year reduction.
Rashid Fahad Al-Naimi, the newly-appointed acting Chairman of the Company commented: “The past year has been difficult for the Company with the impact of structural changes in our industry, namely the increasing use of data at the expense of international voice traffic, and sustained price competition, particularly in the prepaid market, severely impacting our revenue performance. Meanwhile, our cost base has increased in line with the growing scale of our business operations, collectively leading to a reduction in earnings. In light of these results, the Company has performed a review of its cost base to ensure we sustain our margins in the future. As a result, we recently took the difficult decision to reduce our workforce by approximately 10% and write-off various non-performing assets. Unfortunately, the Company is not in a position to recommend a dividend for the fiscal year.”
Despite the difficult trading conditions, Vodafone Qatar has taken important steps to strengthen its operations and network infrastructure to adapt to the developing market and be better positioned to deliver long term returns. We remain confident in the potential of the Qatari telecommunications market, investing QR 396m during the year to enhance our network infrastructure and expand coverage, he said.
Over the last two years, the company has delivered a comprehensive network modernization program, spending nearly QR 1bn in total. Today, Vodafone Qatar’s network is stronger than ever and has achieved “Best in Test” in a technical audit conducted by a third party in April 2016 endorsing our first-rate network performance in Qatar. Similar efforts are underway to deliver a matching superior customer experience. We look to the future with confidence and optimism that the market is showing signs of recovery. We believe the Company now possesses the necessary quality infrastructure, clear direction, and experienced leadership to deliver value for our shareholders.
The company is focused on its mission to deliver innovative products and services and exceptional customer experience.
The Peninsula
