(Adds details, background)
DUBAI Jan 30 Oman's second biggest
telecommunications operator, Nawras, reported a 3
percent fall in fourth-quarter profit on Thursday, citing higher
depreciation costs linked to investment in network modernisation
The firm, majority-owned by Ooredoo, made a net
profit of 10 million rials ($25.97 million) in the three months
to Dec. 31, down from 10.3 million rials in the year-earlier
period, it said in a bourse statement.
It reported declining profits in seven of the previous eight
Gulf Baader Capital Markets had forecast Nawras, which ended
Oman Telecommunication Co's (Omantel) monopoly in 2005,
would make a quarterly profit of 8.54 million rials.
Revenue for the quarter increased to 52.8 million rials, up
2.7 percent from the corresponding period in 2012.
Nawras made a full-year profit for 2013 of 33.1 million
rials, down from 37.0 million rials in 2012. Annual revenue rose
4 percent to 202 million rials.
($1 = 0.3851 Omani rials)
(Reporting by Olzhas Auyezov; Edting by Andrew Torchia)