Thursday 21 October 2010

Oman telco Nawras Q3 net profit up 62 pct | Reuters

Nawras, the Omani telco undergoing an initial public offering (IPO), said on Thursday its third-quarter net profit soared 62.3 percent compared with a year ago, driven by mobile and fixed-line services.

Nawras made a net profit of 12.5 million rials ($32.47 million), compared with 7.7 million in the period in 2009, it said in an e-mailed statement.

Results for the period included a non-recurring provision of 1.8 million rials for one-off payments to staff related to the launch of the fixed service and the IPO, it said."

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