OOREDOO Q.P.S.C. 
(MT Newswires) -- Aziz Aluthman Fakhroo, CEO of Ooredoo, announces a 28% increase in net profit for the year 2023, record growth for the group. Over three years, sales have risen by 6%, profitability by 10% and free cash flow by 30%, with nearly 3 billion rials paid out in dividends.
The CEO noted weak sales in Tunisia and Oman, while Iraq, Kuwait, Qatar, the Maldives and Algeria posted strong performances. Oil-dependent economies were particularly robust. The Israeli-Palestinian conflict is described as minimal for the Group, with less than 3% impact on results.
Ooredoo is concentrating on its current geographical footprint, with no immediate plans for sub-Saharan Africa. The company is strengthening its B2B segment, which has risen from 15% to 23% of sales.
Ooredoo also plans to create the region's largest telecom tower company, valued at $2.2 billion and owning more than 30,000 towers. The company plans to develop a data center platform to meet growing demand.
