Do More With Reuters
Partner Services

Vodafone Qatar H1 loss widens on start-up costs

Wed Nov 4, 2009 7:56pm IST
 
Email | Print | | Single Page
[-] Text [+]

* Hit by operational, capex costs

* EBITDA loss of 156.2 mln riyals

* Revenues 39.2 mln riyals

DUBAI, Nov 4 (Reuters) - Mobile operator Vodafone Qatar VFQS.QA said on Wednesday its half-year operating loss widened to 347.5 million riyals ($95.52 million) on increased operational start-up costs.

The Qatari unit of Vodafone (VOD.L: Quote, Profile, Research), said it made a bigger loss on earnings before interest and taxes (EBIT) for the six months to September 30, compared with the same period last year, when it recorded a loss of 37.5 million riyals.

Earnings before interest, taxation, amortisation and depreciation (EBITDA) was a loss of 156.2 million riyals compared with a loss of 37.5 million riyals last year, and included the amortisation of the 7.7 billion riyal mobile licence over 20 years beginning in May 2009.

The firm, which listed on the Qatar bourse in July, said in a statement it was on track to be EBITDA-positive in the year ending March 31 2011.

"We expect to be able to pay dividends following the year ended March 31 2013, when we will be cash flow positive on a cumulative basis," the company's chief executive, Grahame Maher, said.  Continued...

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

GLOBAL RECOVERY

A labourer works on a flyover bridge at a construction site in New Delhi October 14, 2009. REUTERS/Parth Sanyal/Files
Global economy in holding pattern - IMF

The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article