100% dividend for Omantel shareholders

Muscat: The Board of Directors of Oman Telecommunications Company S.A.O.G (Omantel), the biggest company listed on the Muscat Securities Market, approved the company’s financial results for the year ended 31st December 2009. The company has earlier announced that its net profit after tax on 31st December 2009 has increased by 5% to RO 125.233 million (including minority interest) compared to R.O 119.248 million for the corresponding period of 2008. The Board of Directors has recommended a 100% cash dividend on the company’s paid up capital of RO. 75 Million.

The company’s revenue has grown to R.O 412.297 million from R.O 411.498 million in 2008 and expenses have increased by 5.8% to R.O 268.292 million from R.O 253.522 million.

Commenting on the results, Omantel Vice President for Finance, Talal Said Al Maamri, said: “Omantel is very satisfied with the results we have achieved that represent a historic net profit for the company during a challenging year for every kind of business.

“Our profit and revenues from 2009 provide Omantel with an excellent platform for continued growth in the year ahead in line with the Government of Oman’s economic forecast for increased GDP growth during 2010.

“Omantel will continue to ensure we offer customer-centric solutions that offer real value for all our customers in turn offer excellent shareholder value.”

Mr. Al Maamri said that the highly successful profit and revenue figures for the four quarter were being reflected by initial business growth for the first month of 2010 as customers respond favourably to the exciting range of products and offers from the company’s fixed line and mobile telephony and internet products.

Through its brands Omantel and Oman Mobile, the company delivers the widest choice of state of the art communication services with the broadest network coverage.

The results announcement comes just days after Omantel, in line with its intent to deliver an enhanced customer experience, officially launched its new enhanced brand and a new tagline, “Together”.

Speaking at a press conference in Muscat last week to announce the changes, Omantel CEO Dr Amer Al Rawas said: “This is an important step in the transformation of our business as the enhanced brand has been defined to reflect our new vision, mission and values for the corporation and to form the source of inspiration for our future communication.”

The company is now embarking on a phased plan to rebrand its business and operations. The first phase was the launch on Saturday of the new integrated Omantel website for fixed, mobile and internet services – www.omantel.om.

The enhanced brand will also be highly visible this week during the Tour of Oman, for which Omantel is a gold sponsor, with the enhanced brand logo and tagline featuring on roadside banners, branded support vehicles for the teams and on other materials during the week-long event.

Omantel has been bringing individuals, families and businesses together for four decades and have successfully connected all parts of the Omani community to each other and with the rest