No dividend for Vodafone shareholders until 2013

June 12, 2011 - 9:12:41 pm

By CHRIS V PANGANIBAN

DOHA: Vodafone Qatar shareholders will not get their yearly dividends until 2013 drawing some calls to the company’s board to make good in dealing with a sound financial management this year.

“I’m a little bit frightened with the liability that Vodafone have. I want to have a healthy financial year,” Hassan Al-Jufairi voiced out during the Annual General Meeting of Vodafone Qatar yesterday at La Cigale Hotel.

Al Jufairi, who has 30,000 shares from the company, has called on Qatari board members to take extra effort in supporting the company in building strong relations with the government hinting them working some “politics” to stabilize the company’s financial standings.

A report from the AGM yesterday showed that earnings before interest, tax, depreciation and amortisation for the full year was a loss of QR27.1m which however was a significant improvement over last year EBITDA loss of QR225.3m.

The same report noted revenue for the full year was QR934.9m which is up by 159 percent over last year while there were 291,805 customers added that there are already 756,767 Vodafone customers as of March 31 this year.

Still, another AGM shareholder expressed apprehension about the company to catch up with its still lacking services including the fixed line services and high speed broadband network. “We feel these important services are missing to improve the market,” said a shareholder during the open forum.

Acting CEO John Tombleson has assured the company will try to improve more with further expansion to mobile network by putting up more cell sites to optimise network signal while it would continue to give value to improve more customer services.

Tombleson also vowed to deliver first fixed line plans, increase its money transfer footprints, develop post pay plans and working out for a number portability from other network. Vodafone will secure another $100m loan to respond to the new expansion plans due to accelerated customer uptake. The Peninsula

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