Ooredoo net profit rises 10% to QR1.7 bn in 2019 Feb 14, 2020 0 82 12345 Tribune News NetworkDohaOoredoo Group on Thursday announced that its net profit attributable to Ooredoo shareholders increased by 10 percent to QR1.7 billion in 2019 as compared to last year.According to a company statement, the growth was driven by an increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) and a more favourable foreign exchange environment compared to 2018. Ooredoo Qatar, Kuwait, Tunisia, Iraq and Indonesia performed well. Furthermore, Ooredoo Indosat’s profit benefited from the sale of 3,100 towers.The telecom firm’s reported group revenue was stable at QR29.9 billion, in spite of the industry wide shift from voice to data consumption, a reduction in handset sales as well as macroeconomic and currency weakness in some of our markets.Based on the results, the board of the company has recommended the distribution of a cash dividend of QR0.25 per share. Additionally, the board has also approved a sustainable and progressive dividend policy for the company, aiming for a dividend payout in the range of 40 percent to 60 percent of normalised earnings.The customer base was 117 million, up by 2 percent as compared to 2018, mainly driven by new customers in Indonesia, Myanmar and Kuwait.“In 2019, we made good progress with the execution of our ambitious digital transformation strategy, transforming our core user experience online and making it easier for our customers to find and use our services. We continued to invest in our-state-of-the-art network, as well as introducing and enhancing 5G services in key markets to support the next generation of digital services,” Ooredoo Chairman Sheikh Abdulla bin Mohammed bin Saud al Thani said. RELATED ARTICLES Amir honours Sheikh Abdullah Feb 14, 2020 0 1914 Attiyah attends NATO meeting Feb 14, 2020 0 440 Renovated Al Khor Family Park to open on Sunday Feb 14, 2020 0 1015 Sharp increase in China virus deaths, cases AFP Beijing China’s official death toll from the new coronavirus spiked dramatically on Thursday after authorities changed their counting methods, fuelling concern the epidemic is far worse than being reported. As .. Shura panel continues study of draft law on press, media activities QNA Doha The Joint Committee formed by the Legal and Legislative Affairs Committee and the Information and Cultural Affairs Committee of the Shura Council on Wednesday continued its study of a draft law for regulating ..