Iraq’s Asiacell Grows Revenues by 26%

Qatar Telecom (Qtel) has announced significant growth last year in its Iraqi Asiacell operations.

Following on from the strong subscriber growth achieved in 2009, Asiacell has continued to increase its subscriber base this year leveraging its country-wide network.

Asiacell’s total subscriber base at 31 December 2010 stood at 8.1 million (FY 2009: 7.4 million). At the same time, Asiacell has delivered a number of significant enhancements this year to both its infrastructure and its service line.

These efforts combined have resulted in Asiacell delivering revenue growth in 2010 of more than 26.4% to QR5.1bn (FY 2009: QR4.0bn). EBITDA also increased, growing 21.2% year-on-year to end 2010 at QR2.6bn (FY 2009: QR2.2bn), a significant achievement in what remains a challenging and competitive marketplace.

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