Ooredoo’s Profit Increases by 21%

At the Event Held to mark their 12 year anniversary in the Maldives, the CEO of Ooredoo Maldives, Mr. Najeeb said that their profits for the first six months of 2017 had increased by 21% in comparison to the same period last year. Having launched their IPO in the Maldives during April of this year, Ooredoo saw a lot of interest by the public in purchasing stocks in the Company.

Speaking at the event, Mr. Najeeb said that they had made great strides in improving the lives of their Customers by providing them with the latest technology and international communications mediums during the 12 years that they have been operating in the Maldives and thus seen their Customer base increase to 400,000 during this year. Mr. Najeeb also went on to report that compared to the same period last year, that Ooredoo’s total earning has increased from MVR 801.9 million to MVR 921.4 million, a 15% increase.  The Company’s clear profit had increase from MVR 250.6 million to MVR 303.4 million during the first 6 months of the year. This news comes at a surprising time when Ooredoo Group has reported that the profit for their second quarter has fallen by 12% in comparison to last year.

Also speaking at the event, Uz. Dheena Hussain, a Board Director of Ooredoo said that

“With the corporation and aid of the new partners, Ooredoo is looking forward to crossing new chapters in our successful journey in the Maldives and bring even greater ease and comfort to our beloved customers”