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Vodafone Qatar Q4 net loss widens

Trade Arabia

Vodafone Qatar saw a net loss of $18.1 million in the three
months to March 31

Vodafone Qatar Q4 net loss widens

DOHA, 3 days ago

Vodafone Qatar, an affiliate of Vodafone Group, reported a wider fourth-quarter loss on Wednesday.

The company, which ended state-controlled Ooredoo’s domestic monopoly in 2009, made a net loss of QR66 million ($18.1 million) in the three months to March 31, according to Reuters calculations based on company statements.

That compares with a loss of QR33 million in the prior-year period. The firm’s financial year starts on April 1.

Beltone Financial had forecast Vodafone Qatar would make a quarterly loss of QR70 million.

Vodafone Qatar, 23 per cent owned by parent Vodafone and 22 per cent by a Qatar government-linked fund, made a loss of QR216 million in the 12 months to March 31, versus a loss of QR246 million in the prior-year period, according to a statement to Doha’s bourse.

The company did not provide further details.-Reuters

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