Customer numbers reached 1,463,596, up 0.4% year-on-year, “driven by postpaid growth supported by a rich postpaid portfolio that offers a wide range of innovative plans to suit all customer needs.”
Vodafone’s financial year starts on April 1 and ends on March 31.
On the results, Vodafone Qatar’s chief executive officer Ian Gray said, “The company’s Q1 Results reflect the continued improvements in operational and financial performance. Total revenue grew by 3.1% to reach QR516mn at the end of June, driven by growth in both postpaid and fixed. EBITDA increased significantly to reach QR139mn at the end of June, representing a 38.6% increase compared to the same period in 2016, aided by better mix of revenues and by maintaining strong cost control. The net profit excluding amortisation stood at QR44mn for Q1, 2018 led by EBIDTA flow through. Moreover, company’s customer base increased by 0.4% driven by postpaid growth supported by a rich postpaid portfolio that offers a wide range of innovative plans to suit all customer needs.
“By end of June we achieved our highest ever performance in customer appreciation of our services reflecting the high quality of our network and customer services. We strive to provide our customers with world-class service every day and a recent outage of our network is most disappointing to our customers and to us. We want to assure customers that we intend to justify their trust and that the ‘You First’ compensation programme thanks them for their patience and loyalty. We now remain focused on implementing the company’s strategy to expand from our core mobile strength, further invest in fixed line activities and building on our international reputation through innovation and delivery of quality products and services.”
Vodafone Qatar has confirmed completion of the amendments to its Articles of Association, as approved at the Extraordinary General Assembly held on July 25. These amendments have now been formally ratified by relevant authorities and ensure greater alignment of the company’s Articles of Association with applicable legislation (in particular the Foreign Investment Law 2014 and the Commercial Companies Law No 11 of 2015).
As part of these changes, the company’s Articles of Association were amended to permit a maximum foreign ownership threshold of 49%, where previously there was no such restriction. This applies to all listed companies in Qatar.
