Ooredoo is a major global player in the telecoms sector, particularly in Asia and the Middle East
Qatar based telco Ooredoo has seen revenues drop by 6 per cent, as the company experiences a contraction in its overseas business units in Indonesia and Algeria. Group EBIDTA also shrank by around 10 per cent in the first half of 2018, according to a company release.
Ooredoo has over 130 million customers around the world and will hope to boost its revenues by expanding its operations in a number of emerging markets in which it currently operates.
"Our financial results come at time when the telecom sector is undergoing significant structural changes combined with unfavourable Foreign Exchange rates as well challenging market conditions. While these factors have affected our financial results for the period in some markets, we have made good operational progress in other markets and I am confident Ooredoo has the right strategy to grow in the new market environment,” said H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chairman of Ooredoo.
Ooredoo’s was recently recognised as the fastest network provider for 3G and 4G services in Myanmar, Oman and Algeria. Ooredoo has now launched 4G networks in 8 of the 10 markets it currently operates in and will hope that increased ARPU and subscriber numbers will bolster its revenues in the second half of the year.
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