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JD 42 million is the semiannual profits for PALTEL

2008-08-05

PALTEL group announced realizing an after tax income of JD 42.2 million (approximately $59.5 million) in the first half of the current year, versus JD 27.6 million in the same period of the last year with a growth rate of %53. The group board of directors" chairman declared in the disclosure that had been received by the PSE that the operating income had increased by %14 in the period to reach JD 39 million versus JD 34 million last year. And PALTEL also announced that the company"s revenues reached to JD 139 million rising by %32 versus JD 105 million in the same period last year. By this the earning per share increases to JD 0.32 in the first half of 2008 versus JD 0.21 in the first half of 2007. Also the return on assets rose between the comparable periods from %7 to %10, and the return on equity also raised from %10 to %15. The board of directors refers these results to the growth in the sectors of: wireless and regular telecommunications and media by %47, %7 and %111 respectively. The subscribers in JAWWAL raised by 286 thousands to reach 1,195,838 subscribers at the end of the first half of 2008, versus 909.300 at the end of the first half of 2007, with an increase rate of %31.5. Also the subscribers of the fixed lines rose by 22 thousands to reach 350 thousand at the end of the first half of 2008, versus 328 thousand at the end of the first half of 2007, with a growth of %7. In addition to an increase by %53 in the broad band internet subscribers to reach 64 thousand subscribers. And according to the audited balance sheet, PALTEL total assets reached JD 435.8 million in the first half of 2008 versus JD 421.6 million in the same period of 2007, with a growth rate of %3.3. Aldo the company"s total liabilities rose by the same percentage to reach JD 149 million. The shareholders equity  grew by %3.4 to reach JD 286.7 million at the end of the first half of 2008.