Omantel announced that it recorded a decline of 20.5% in net profit for the six-month period ended 30th June 2020.
This decline on the business was mainly driven by a 27% year-on-year (YoY) decline in Group's net profit for the second quarter of 2020 due to the unavoidable impacts of COVID-19 pandemic, predominantly on the core mobile business.
Omantel Group achieved these results despite the impacts of COVID-19 pandemic that virtually halted economic activity and travel across the region. Furthermore, through its proactive steps and focused strategy, management was able to mitigate the COVID19 impacts through a series of initiatives that included significant investments in digital infrastructure (Enhanced Mobile App, Portal and the Call Centre) which helped in ensuring that the digital channels were available for the customers to enjoy uninterrupted services. Moreover, Omantel earlier investments in 5G infrastructure helped to grow Home Broad Band revenue by 8.1% in the first half of 2020 compared to the same period of 2019.
On the international operations side, Omantel’s international wholesale business diversification strategy helped the Company to grow the international capacities business by 7.6% in the first half of 2020 compared to 2019 which continues to exhibit a high amount of resilience.
Talal bin Said Al-Manari, CEO, Omantel
Omantel proactively sought to mitigate the impacts of this pandemic, first by focusing on providing vital connectivity to all to ensure access to essential medical, commercial and financial services. Second, our business continuity strategy saw the implementation of a number of innovative measures and initiatives to mitigate the effects of the lockdown on the business
