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Jordan Telecom's 2012 profits fall 7.2 pct
February 14, 2013 / 11:36 AM / 5 years ago

Jordan Telecom's 2012 profits fall 7.2 pct

AMMAN, Feb 14 (Reuters) - Jordan Telecom Group, the country’s sole fixed-line operator, said on Thursday 2012 net profits fell 7.2 percent to 83.2 million dinars ($117.3) as revenues dropped in an increasingly competitive market.

The telecom group, in which France Telecom owns a 51 percent stake, said revenues of its integrated mobile, Internet and fixed-line business fell a slight 0.9 percent to 408 million dinars in 2012.

Operating income dropped 4.5 percent to 163.1 million dinars.

Industry executives say Jordan Telecom faced tough competition last year in a sector that has seen a fierce turf war between three telecom operators and has been hit by sluggish economic growth. ($1=0.709 dinar) (Reporting by Suleiman Al-Khalidi; Editing by Susan Fenton)

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