Qatar Telecom (Q-Tel) announced on Saturday a 15.5 percent increase in net profit, to 357.4 million Riyals ($98.2 million), in the first six months of 2000, compared to the first half of last year.
Q-Tel, which has a monopoly on telecommunications in the Gulf Arab state, said in a statement that revenue climbed 5.5 percent over the same period to 662.6 million Riyals ($182 million).
The government holds a 55 percent stake in the company, while 45 percent of its shares are publicly traded on the Doha stock market. Q-Tel's profits in 1999 rose 13.3 percent to 623.5 million Riyals ($171 million). ― (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)
