Vodafone Qatar's half-yearly profit of 78 million riyals

The total business turnover of Vodafone Qatar has increased 1% to 1.06 billion RS in the first half of this year compared to the same period last year. This is due to the high base of monthly subscribers and broadband subscribers.
Earnings before financing, taxes, depreciation and amortization increased by 26.2% to RL 358 million, driven by higher revenues, continued cost reduction, and the application of IFRS 16. This margin improved EBITDA from 33.7% to 6.7 percentage points in the first half of 2019.
The company reported a net income of 78 million SAR, representing a 60% increase over the previous year, mainly due to higher earnings before financing, taxes, depreciation and amortization. With the exception of the reversal of non-recurring non-recurring provisions in the first half of 2018, net income doubled by 125%.
Vodafone Qatar currently serves approximately 1.8 million customers due to the strong growth in the monthly subscription services business, thanks to its innovative products and distinctive packages.
The performance
Abdullah bin Nbader Al Missned, chairman of Vodafone Qatar, commented on the company's results: "Vodafone Qatar has achieved a solid financial performance over the last six months thanks to its net profit for the sixth consecutive quarter, The figure from one year on the other clearly indicates that the company has managed to increase its profits and achieve sustainable growth.On behalf of the Board of Directors, I would like to thank all the official bodies of the State, our shareholders and our valued clients who would not have achieved these positive results without their continued support. "
"In order to maintain the company's current growth rate, we will continue to make strategic investments in fixed and mobile networks and allocate a significant portion of our capital expenditures to the deployment of the fifth generation network (5G). "said Rashid bin Fahd Al Nuaimi, general manager of Vodafone Qatar. ). I expect these investments to positively impact our shareholders and clients over the coming quarters. "
"We are pleased to announce that the deployment of optical fiber is in full swing before the scheduled date and that it is now available in many parts of the country," said HE Sheikh Hamad Bin Abdullah Bin Jbadim Al Thani , CEO of Vodafone Qatar. The recently launched 3G home network by Vodafone Qatar, which uses the new Gigant network, including fiber optic and fifth generation (5G) networks, is one of the pillars of growth in our home business.