www.WirelessFederation.com/news: 5% year-on-year increase in the net profit to OMR125.2 million (USD323.9 million) has been reported by Oman Telecommunications Company (Omantel). However, due to increased competitions, sales rose by less than 1% to OMR412 million while net income after tax climbed to OMR125 million during 2009 from OMR119 million.
In a in a move to reduce costs and make savings starting 2010 onwards , the company expects to make savings of about OMR2.8 million from voluntary redundancies it offered in 2009.
4Q09 net profit at OMR19.4 million is based on previous financial statements and is up from OMR9.7 million in the same quarter.
