Qtel doubles H1 revenues after acquisitions(Qatar)Qatar Telecom reported a near doubling in first-half revenues to QAR 4.014 billion versus QAR 2.033 billion a year earlier, helped by acquisitions abroad. EBITDA grew 67.8 percent to QAR 2.133 billion, and consolidated net profit increased to QAR 1.338 billion from QAR 1.124 billion a year ago. Acquisitions in the past year included 51 percent in Wataniya Telecom, a stake in an Asian mobile venture with ST Telemedia and 78 percent of wireless venture ATCO Clearwire. In its home market, Qtel’s revenues were up 17 percent to QAR 2.15 billion. The mobile customer base, the main profit driver, grew to 1.108 million versus 811,000 in June 2006. Qtel’s mobile operator in Oman, Nawras, increased its base to 787,000 customers, with revenues up 91 percent to QAR 371 million. Wataniya group generated revenues of QAR 2.141 billion in the period and ended June with 7.4 million customers.
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