Ooredoo posts first half results for 2015

Ooredoo posts first half results for 2015

Ooredoo Kuwait has revealed its first half results for 2015, in which revenue declined by 5.4% compared to the same period in 2014.

Revenues for the first half stood at $1.188 billion compared to $1.347 billion in H1 2014.

The operator said its total customer base increased to 24 million at the close of 1H 2015, amounting to year-on-year growth of 11.3%.

"Ooredoo Kuwait continued strong customer growth in the first half of 2015. Our customer base grew by 2.4 million, which is equivalent to an increase of 11% to 24 million in first half 2015 driven by Kuwait, Algeria and Maldives, where we delivered good growth in local currency revenues. We maintained our market leadership position in Tunisia and continued to implement our strategy in Palestine. Net profit was impacted mainly due to adverse currency movements in Algeria and Tunisia,” said Sheikh Saud Bin Nasser Al Thani, chairman of the Ooredoo board.