A remarkable progress in the group’s recovery
For H1 2017, Ooredoo was able to increase its revenues to QAR16.259bn, an improvement by 2.2%, with a 2.3% rise in its Q2 2017 revenues (vs. +3.1% expected for the whole year). However, H1 2017 revenues were affected by: 1/ the 5.8% decrease in revenues in Algeria, negatively impacted by an increase in VAT and a weak economic environment, 2/ the 11.3% drop in revenues in Tunisia, which continued to be impacted by FX depreciation of the Tunisian Dinar by 13% (Note that in local currency terms, revenues have increased by 2%), and finally 3/ the 13% decrease in revenues in Myanmar, negatively impacted by increased competition and FX rates (Myanmar Kyat depreciated 10.5%).
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