Qatar Telecom

COMPANY DESCRIPTION

Qatar Telecom (Qtel) is a provider of domestic and international telecommunication services to residential and business users in Qatar. In addition, it offers wireless telecommunication services in the Middle East, Asia and North Africa. Landline, mobile, cable television and internet services are provided by the company. Operating in 17 countries, foreign units accounted for almost three quarters of Qtel’s 2008 sales, with Indonesia, Kuwait, Iraq and Algeria joining the company’s home country as its top markets. After adding international units and clients through three years of acquisitions, Qtel plans to raise its profits in 2009 by as much as 11 percent. It is targeting an improved net income attributable to shareholders of $700m in 2009. However, the company said last month its rate of revenue growth would slow during the year to as much as 22 percent after sales nearly doubled to $5.57bn last year.