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Jordan Telecom's 2013 net profits fall 38 pct
February 16, 2014 / 12:15 PM / 4 years ago

Jordan Telecom's 2013 net profits fall 38 pct

AMMAN, Feb 16 (Reuters) - Jordan Telecom Group, the country’s sole fixed-line operator, said its 2013 net profits fell 37.8 percent to 51.7 million dinars ($73 million) as revenues dropped in an increasingly competitive market.

The group, in which Orange, formerly called France Telecom, owns a 51 percent stake, said on Sunday revenues of its integrated mobile, Internet and fixed-line business fell 11.7 percent to 370 million dinars in 2013 against the previous year.

Industry executives say Jordan Telecom faced tough competition last year in a turf war between three telecom operators and has been hit by higher government taxes. ($1=0.709 dinar) (Reporting by Suleiman Al-Khalidi; Editing by Anthony Barker)

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