By John Lee.
Asiacell Iraq has announced 4 percent growth in revenues from QAR 2.1 billion ($570 million) in H1 2016 to almost QAR 2.2 billion ($600 million) in H1 2017.
The customer base increased 13 percent to reach more than 12 million customers in H1 2017.
EBITDA decreased by 3 percent and stood at QAR 972 million due to network investments to accommodate high data demand as well as reconnection cost in the liberated areas.
According to a statement from the company’s Qatar-based owner Ooredoo, growth was stimulated by improvements in the political situation. “With further areas in Mosul being liberated during the first half of the year, network reconnection helped to drive the increase in customer numbers,” it said.