Qtel records $5.5bn revenues for end September 2010

02 February 2011

Group looking to grow operations

Qatar Telecom (Qtel) chief executive says the foundations are in place to take growth to the next level. The company will be focusing on broadband solutions and business-to-business hosted services particularly in its Middle East markets.

Speaking at a session for analyst at the annual Capital Markets Day, in Doha on 2 February chief executive Nasser Marafih says: “We have built firm foundations for the growth by ensuring consistent strategy and execution. The Qtel group is opening new areas of value through shared synergies such as framework agreements at a group level and shared innovations such as the entertainment and social networking services being launched across multiple markets.”  

Qtel has grown over the past five years to amass about over 68 million customers across 17 countries. It has interests in Oman via Nawras and Tunisia and Kuwait via Wataniya. Nine-month revenues have grown from $819m in 2005 to $5.5bn by September 2010. Around 80 per cent of total revenue comes from the group’s international operations. It has expressed interest in buying a stake in Kuwait’s Zain subsidiary in Saudi Arabia.

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