Palestine telecom profit increases by 22.8%

On 02.18.11, In Mobile, By Editor

Palestinian telco network, PalTel has reported that its full-year revenues for 2010 increased by 7.88% to US$479 million, while it also saw a 22.75% rise in net profits to US$122 million.

The rise in net profits was put down to a decline in investment losses by 40.28%. The decline in other non-recurring expenses by 32.66%; non recurring expenses are mainly related to the financial settlement which was signed during 2010 between Paltel Group and the Palestinian National Authority.

In regards to the operating revenues of each segment, the company achieved a growth in its Fixed Line, Mobile, Data and IT revenues by 10.04%, 9.07%, 9.52% and 13.60% respectively.

According to Ammar Aker, CEO of the Paltel Group, the positive financial results for 2010 is due to the successful implementation of the strategic direction approved by the board at the outset of 2010 and is a result of the company’s settlement of some non recurring expenses for license fees and reconciliation of portfolio investment losses carried over from previous years. They are able to claim in 2011 that they are a healthy operation, looking forward to continue their focus on growing their core services.

Mobile and ADSL subscribers grew by 26.58% and 16.12%, respectively reaching a customer base of 2.26mn and 107,389 compared with 1.80 milion and 92,483 as of the end of FY-2009. The number of fixed line subscribers witnessed 2.08% decline rate to stand at 362,792 subscribers compared with 370,483 as of the end of FY-2009. This decline was a result of the new disconnection policy for inactive lines.

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PalTel Q3 revenue increases, net profit plunges (Palestine)

On 11.02.10, In Mobile, By Editor

The Palestine Telecommunications Company (PalTel) has revealed its third quarter results. The company reported an increase of 8.84% in its revenues to US$356 million, although the net profit declined by 9.6% to US$92 million due to exceptional items. The decline in profits was attributable to the investment losses mainly caused from the company’s share in VTEL offshore operations.

As of the end of September, the number of fixed line subscribers grew by 11.02% to reach 405,947 compared with 365,640 during the same period of last year. Mobile and ADSL subscribers grew by 29.73% and 17.82%, respectively, reaching a customer base of 2.135 million and 102,429 compared with 1.646 million and 86,935 as of the end of Q3-2009.

According to Mr. Ammar Aker, the CEO of PalTel, the Group continues to achieve financial growth due to new strategies in place while closely working with the Ministry of Telecommunications and Information Technology (MTIT) to further the development of the telecommunications sector by promoting competition and serving the Palestinian community to provide optimal services for all its customers.

Mr. Aker added that the restructuring of Paltel Group has allowed  companies to re-focus on core business initiatives and meet the daily challenges of implementing new strategies in respective operations in mobile, fixed and data services. All of this effort has already resulted in a positive impact in terms of growth in subscriber base and the related impact on operational revenue.

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Paltel net profit increases 20.8% (Palestine)

On 04.28.10, In Mobile, By Editor

www.WirelessFederation.com/news: First-quarter net profit of Palestinian incumbent Palestine Telecommunications Company’s (Paltel’s) rose 20.8% to AED120.83 million (USD32.89 million). The rise has been attributed to the increase in the subscribers’ numbers.  Paltel’s revenue also increased, up 9.8% year-on-year from AED380.66 million at end-March 2009 to AED418.21 million in the three months ended March 31, 2010.

According to telco’s CEO Ammar Aker, turnover from fixed line voice services continued to decline however, down 2.7% against the same period a year earlier, although this was offset by a 15.65% increase in revenue from the company’s mobile subsidiary, Palestine Cellular Telecommunications Company (Palcel).

Palcel added more than 450,000 customers in the year ending March 2010, outpacing its fixed line counterpart in terms of subscribers; while both fixed and mobile units reported subscriber growth, the latter saw a far larger increase. Even the ADSL services witnessed a continuous growth.

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Zain seeks to re-initiate merger talks with Palestine’s Paltel

On 01.28.10, In Mobile, By Editor

www.WirelessFederation.com/news: Resurrection of the aborted merger of the Jordanian assets with Palestine’s Paltel has been seeked by Kuwait’s Zain on the same terms as before.

According to the terms and conditions of the agreement announced by the company in May last year, the ownership of the Jordan subsidiary to Paltel was to be transferred by Zain in exchange for taking an equity shareholding of 56.53% in the enlarged company. However, the company has to call off the talk last November as it did not receive the required government approvals that were condition precedent to concluding the deal.

Significant” synergies and efficiencies in CAPEX and OPEX spend and purchasing power has also been seeked by Zain.

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Dubai firm edges out competitors in Kenya license bid

On 10.30.06, In Mobile, By Editor

A consortium led by Dubai-based VTEL won a lucrative tender to provide telecommunications services in Kenya.

The Communications Commission of Kenya (CCK) told a news conference in Nairobi that VTEL, with technical partner Palestine’s PalTel, won the lucrative integrated license that included national cellular, Internet backbone, international voice gateway, commercial VSAT and provision of long-distance voice data.

CCK director general John Waweru said the consortium beat two other bidders to become the second national telecom operator after state-run Telkom Kenya.

“We at the commission are happy that the Kenyan communications market is still very attractive to investors. We have witnessed very serious bids in this license,” Waweru said.

The consortium is expected to be operational within a year.

Waweru said VTEL quoted $169.7 million to edge out India’s state-run Mahanagar Telephone Nigam, which quoted $52 million, and the Reliance Consortium, which included Swedtel of Sweden as the technical partner, with a bid of $111 million.

VTEL Holdings Africa chief executive Nour Atout said two Kenyan companies were included in the consortium to spread the local ownership of 30%.

The group would start its services rollout move with mobile phone services, he said.

The entry of a second national operator is expected to end the monopoly of state-run Telkom Kenya on fixed-line services and is seen bringing down the cost of telecommunication due to competition.

Source- http://www.telecomasia.net

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