Tuesday, 19 February 2019

Vodafone Qatar celebrates first ever full year profit

Chris Kelly
Tuesday 12 February 19

Qatar intends to be among the first GCC nations to launch commercial 5G services later this year

Vodafone Qatar has recorded its first ever annual profit, posting net profits of 118 million Qatari Riyals ($32.4 million) for the full year of 2018. During the same period, Vodafone Qatar increased its post paid customer base by 24.1 per cent. “2018 was defined by strong financial performance and a year that truly marked a significant turning point in the life of our Company…

Vodafone Qatar has recorded its first ever annual profit, posting net profits of 118 million Qatari Riyals ($32.4 million) for the full year of 2018.

During the same period, Vodafone Qatar increased its post paid customer base by 24.1 per cent.

“2018 was defined by strong financial performance and a year that truly marked a significant turning point in the life of our Company. The crucial decisions made and milestones achieved in our strategy have put us on a clear path to growth,” said Vodafone Qatar’s CEO, Sheikh Hamad Abdulla Jassim Al Thani.

Al Thani said that his company would continue to push to be among the first in the region to rollout a fully commercialised mobile 5G offering to the market, later in 2019.

“We made major strides in 2018 to become a fully converged telecommunications company and I am extremely proud of our role of being at the forefront of the digital era. We have built an ecosystem of digital products and services for the evolving demands of our customers for both consumers and businesses alike. Now, with 5G deployments well underway across key locations in the country, since switching on our 5G network in August 2018, we have strengthened our commitment to invest in Qatar’s information, communication, and technology sector and bring world-class infrastructure to the country,” he said.

Vodafone Qatar has also invested heavily in its fixed line offering and will be looking to deliver a large scale fibre to the home rollout in 2019.

“Beyond our investments in 5G technology, we are also investing heavily in our fixed-network infrastructure. We are rolling out Vodafone GigaNet fibre in more than 20 strategic areas with plans in 2019 to continue our roll-out.

We are confident that we have the right strategy in place to succeed and accelerate our Company’s growth in 2019 and beyond. We will continue our strong commitment to pioneer digital innovation in Qatar and to be a leading contributor to the bold and ambitious aims of the Qatar National Vision 2030,” Al Thani said.  

 

Also in the news: 

Mobile 5G subscriptions to hit 15.8m in MENA by 2023

DU eyes 5G rollout in UAE for H2 2019

GSMA: Middle Eastern telcos ready to lead on 5G

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