Business


Omantel to conduct panel meet at MSM



Muscat: The Oman Telecommunication Company (Omantel)  board's discussion will take place at the Muscat Securities Market on August 21. The board of panel will include Talal Said bin Marhoon Al Mamari, chief executive officer of Omantel, and other members of the company's senior management.

The meeting will address the current position of the company and its performance during the first quarter of the year in comparison to its last year's performance.

The event will commence at 1.30pm at the CMA businessman hall and officials from Capital Market Authority (CMA) and Muscat Clearing & Depository besides MSM. Brokerage and investment companies, investors and the media will also attend.

During the session, the financial results for the second quarter of the current year will be announced by Omantel, as it has previously announced the results till the end of May, 2014 (the results for the first quarter of the current financial year), where it recorded good growth and an increase in its net profit by 18.1 per cent, which amounted to OMR34.4 million compared to OMR29.1 million during the same period last year.

Moreover, Omantel has achieved a growth in revenue of 5 per cent to reach up to OMR120.2 million compared to OMR114.5 million during the same period last year.

Meanwhile, Omantel  announced its board of directors' decision to the appoint  Talal Said bin Marhoon Al Mamari as the new chief executive officer of Omantel, with effect from June 29. 

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