Mubasher: Ooredoo reported a 44% year-on-year profit increase in the fourth quarter of 2018.

The Qatari telecom firm’s profits amounted to QAR 478 million ($132 million) in Q4-18, versus QAR 332 million ($91.7 million) in the year-ago period, according to the company’s statement to the Qatar Stock Exchange (QSE).

For the full-year 2018, the company’s profits fell 17% to QAR 1.57 billion, from QAR 1.89 billion in the prior year.

Earnings per share (EPS) registered QAR 4.89 last year, against QAR 5.92 in 2017, the Qatar and UAE-listed firm noted. 

The Qatar-based telecom group’s board of directors recommended distributing a cash dividend of QAR 2.5 per share.

During the first nine months of 2018, Ooredoo’s profits dropped 29.9% to QAR 1.09 billion, compared to QAR 1.55 billion in the corresponding period of 2017.