Ooredoo Oman 2Q16 earnings increase 7% Y-o-Y to OMR12mn on revenues and EBITDA growth
Ooredoo Oman reported 2Q16 headline figures last week. Net income for the quarter came in at OMR12mn, up 7% Y-o-Y, driven mainly by strong top-line growth, which came in at OMR66.7mn (+6.5% Y-o-Y). This has filtered through to the EBITDA level totalling OMR36mn and implying an EBITDA margin of 54.1%. Moreover, the company reversed a provision of OMR0.6mn during the quarter related to income tax expense, according to the press release. More details will be announced when the full financials are available. (Company disclosure)
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