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Iraqi Asiacell posts IQD 513 bln revenue for Q1

Iraqi Asiacell posts IQD 513 bln revenue for Q1
Asiacell
TASC
3.83% 7.05 0.26
Ooredoo
ORDS
0.00% 6.85 0.00
Asiacell posted its financial results for Q1 2014, where net profit decreased by 34% to IQD102bn compared to IQD155bn for the same period last year. Revenues decreased 9.4% YoY to IQD513bn due to continuing competition. EBITDA decreased 18.8% YoY to IQD230bn on slower revenues and higher expenses. Asiacell's mobile customer base grew by 4.9% to 10.8mn, according to the company’s press release.