Qatar's Ooredoo sees Q2 net profit plunge on Iraq, forex 7/29
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Thread: Qatar's Ooredoo sees Q2 net profit plunge on Iraq, forex 7/29


    
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    Qatar's Ooredoo sees Q2 net profit plunge on Iraq, forex 7/29

    Qatar's Ooredoo sees Q2 net profit plunge on Iraq, forex



    Qatari telecom operator Ooredoo reported a 39 percent fall in second-quarter profit on Wednesday, its sixth decline in eight quarters as foreign exchange losses and plunging earnings from war-torn Iraq outweigheld a strong domestic performance.

    The former monopoly, which operates in about 13 territories across the Middle East, Africa and Asia, made a net profit of 501 million riyals ($137.6 million) in the three months to June 30, it said in a statement.

    This was down from 817 million riyals in the year-earlier period.

    Two analysts polled by Reuters had forecast majority state-owned Ooredoo would make a quarterly profit of between 565 million riyals and 592 million riyals.


    http://www.arabianbusiness.com/qatar-s-ooredoo-sees-q2-net-profit-plunge-on-iraq-forex-600960.html?#.VbkDCktUNZg
    Last edited by Doodle Brain; 07-29-2015 at 06:48 PM.



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