Vodafone Qatar’s Chairman Abdulla bin Nasser Al Misnad (centre), board members and Vodafone Qatar CEO, Sheikh Hamad Abdulla Jassim Al Thani (left), during the Ordinary General Assembly Meeting, yesterday.
DOHA: Vodafone Qatar is acutely aware of the rapid pace of innovation and digital transformation taking shape around the businesses and the company is confident that its strategy to pioneer digital innovation will sustain the profitable growth, Vodafone Qatar’s Chairman Abdulla bin Nasser Al Misnad said yesterday.
Addressing the Ordinary General assembly Meeting of Vodafone Qatar, the Chairman said the company is investing heavily in both its wireless and fixed infrastructure, most notably its expanding 5G network. In addition to leading the roll-out of 5G, Vodafone Qatar has been the first to make 5G commercially available with a wide range of plans and exclusive 5G products. On top of this, Vodafone Qatar is bringing other innovative digital services and products to the market including the latest in home and business solutions.
“Despite the challenges being faced by the sector as a whole, Vodafone Qatar demonstrated sustainable growth in 2019, with a 22 percent growth in net profit to QR144million. The Company also delivered a 1 percent increase year-on-year in total revenue to reach QR2,125 million and service revenue grew by 2.4 percent to reach QR1,949 million.”
“In 2020, we will continue to execute against our clear strategy with a large focus on capitalizing on the enormous opportunity that 5G technology provides. We will also continue to drive efficiencies that allows us to deliver strong operational results and shareholder value. We are excited by our plans for this year; both consumers and businesses can expect continued leadership in innovation from us in technology, products and services,” the Chairman added.
The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 5 percent of the nominal share value, i.e. QR 0.05 per share.
The meeting also covered the Board of Director’s report detailing the Company’s activities and its financial position for the financial year ended 31 December 2019.
The Shareholders reviewed and endorsed the external auditor’s report on the Company’s Accounts for the financial year ended 31 December 2019 and the external auditor’s reports on the Company’s Corporate Governance and Internal Control over Financial Reporting. It was also approved unanimously that Deloitte & Touche be reappointed the Company’s auditors for the financial year 2020, in addition to approving their fees.
The shareholders approved the financial statements of the Company for the financial year ended 31 December 2019 and the Corporate Governance Report of the Company for 2019. Moreover, there was unanimous agreement to discharge the members of the Board from all liabilities and approve their remuneration.
