Vodafone Qatar’s net loss widens, to cut staff by 10%
Vodafone Qatar said it recently decided to cut its workforce by a tenth as it reported a net loss of QR465.7m for the twelve months ended March 31 this year, compared to a net loss of QR215.8 million for the same period last year.
Total revenue fell 8% to QR2,119 million.
The company's mobile customers grew 7% to 1,548,000 but mobile average revenue per user dropped 13% to QR107.
The company's quarterly revenue also fell 4% to QR516m and reported a net loss of QR180m, representing a loss per share of QR0.21 for the period ending March 31.
The company also said Sheikh Dr Khalid bin Thani Al Thani has decided to step down from his role as the company's chairman and as a board member due to his other work commitments.
Rashid Fahad Al Naimi has been appointed as acting chairman and will serve for the remaining term of the current board, pending the appointment of a new board at the company's annual general assembly.
Naimi commented: "The past year has been difficult for the company with the impact of structural changes in our industry, namely the increasing use of data at the expense of international voice traffic, and sustained price competition, particularly in the prepaid market, severely impacting our revenue performance.
"Meanwhile, our cost base has increased in line with the growing scale of our business operations, collectively leading to a reduction in earnings."
"In light of these results, the company has performed a review of its cost base to ensure we sustain our margins in the future. As a result, we recently took the difficult decision to reduce our workforce by approximately 10% and write-off various non-performing assets," he said.
Courtesy: Qatar-tribune.com
You are prone to lose everything when greed becomes your daily activities........Vodafone Qatar is a greedy and disorganized organisation with lots of hidden/ghost charges on hustling subscribers. It ought not be in existence.
VODAFONE QATAR has many issues like poor signal in many areas and they are not listening to costumers problems . using old equipment and still no fiber optics line for personal use make the things worse . as they said they will finish fiber line in 2016 and till now they finished only 10% in Qatar and i think they need more 3 years at least to finished fiber optics project witch make their loss more and more ..
Guys..its not only vodafone..ooredoo has screwed me many times by simply vanishing my balance. I emailed them many times, but their reply was not in a matured way. Every mobile company screws their customers, but for Vodafone the reception is very good compared to Ooredoo. I have switched to Vodafone and so far so good.
as they deserved...
Sorry to say but I recently buy a Vodafone sim card and never activate any package and I don't use much as i have oreedoo also, I recharged a 100 Qr in Vodafone I just use it twice or thrice for local calls just for only 2 to 3 minutes then after almost 20 to 25 days I was trying to call and I got shocked after listening that I don't have sufficient balance and I felt I got cheated by them I will never use Vodafone again......
So according to MM , the money can be recovered in 3 months
// wasting time on Karak//
What is your view on it, Rizks...
Creative accounting that has been exposed and people providing poor customer service has now taken its toll! Its starting, pack up your bags and go! All you guys that don't make effort to contribute, its time to go! No more lazying around, wasting time on Karak and Ciggy brake, if you can't get do your job properly, they will hire someone else at lower salary who is willing to do your job.
Hold on .. This can't be right .. Only a few months ago QL was reporting accolades and rewards for Vodafone
And they have increased local call charges from 10 D to 20 D.
The market in Qatar is too small to be profitable for Vodafone. They should forget it, the sooner the better for them.
Loss of 180mn is not much for a communication company , it can be easily recovered in the next 3 months ............