Vodafone Qatar Discloses Its Financial Statements for the Full Year Ended 31/03/2017

 

May 18, 2017

 

Vodafone Qatar disclosed its financial statements for the period ended on 31/03/2017. The statements show that the net loss is QR (269.2) million compared to net loss amounting to QR (465.7) million for the same period of the previous year.

 

Loss per share amounted to QR (0.32) for the period ended on 31/03/2017 compared to loss per share amounted to QR (0.55) for the same period of the previous year.

 

The Board of Directors recommended to the Annual General Assembly not to distribute dividend in order to accelerate investment in coverage and fixed line opportunities.

The Group's Comment

 

Though Vodafone's income declined by 2.85% to QR2059 million in 2016, total expenses fell by 11.4% to QR 1522 million.  Consequently, the company achieved an operational profit worth QR 536.5 million, up by 33.8% compared to last year. Deducting amortization and depreciation, financing cost, then the company's loss drops by 42.2% to QR 269.2 million. Hence, the accumulative loss incurred since incorporation increased by 11.1% to QR 3.97 billion.