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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Sudatel Telecom Group Ltd    SUDATEL   SD000A0F5KV7

SUDATEL TELECOM GROUP LTD

(SUDATEL)
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Sudatel Telecom : postsUS$32 million net profit for 2018

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04/16/2019 | 01:07am EDT

Sudatel CEO Eng. Tarig Hamza Zain Elabdein

Sudatel has released its financials for 2018.

Sudatel’s financial performance for 2018, like all other businesses in Sudan, was impacted by a major currency devaluation.

Key figures include a net profit of US$32 million (compared to US$45 million in 2017). Overall operating revenue of US$326 million was down by 36% from US$513 million 2017. However, revenue from operations in Sudan was up 49% in 2018.

Commenting on the results, Sudatel group chair Dr. Fadul Abdalla Fadul noted: “We adopted a very clear strategy of partnering with successful international firms to expand our operations both in Sudan and in West Africa. This strategy is serving us well and will be continued.”

Sudatel’s CEO, Eng. Tarig Hamza Zain Elabdein, said: "Sudatel has moved from being a telecom operator providing voice and data to an ICT solution provider."

He added; "The Sudatel Data Centre is one example of this, with customers that include large institutions in Sudan such as banks, public corporations and insurance companies. We are also hosting Google’s servers, and this vote of confidence in our data centre has boosted our reputation globally.”

The national auditor for the Republic of Sudan and the representatives of foreign audit firms have expressed their gratitude to Sudatel’s management for its collaboration and congratulated the company’s progress in settling its debts from its own resources. Sudatel’s negative working capital has decreased from US$380 million in 2012 to US$134 million in 2018.

Sudatel Group and its subsidiaries in Mauritania, Senegal, Nigeria and Ghana (submarine cables), in addition to its office in Dubai, are audited by a network of foreign professional auditors: EY, HLB and AFACOR in Mauritania.

Sudatel is the only Sudanese company quoted on the Abu Dhabi Stock Exchange, and the largest company listed in Khartoum Stock Exchanges. Its financial results are published systematically on the websites of the above mentioned markets.

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
Tarig Hamza Zain El Abdein Chief Executive Officer
Abd Al Rahman Mohammed Darar Chairman
Michel A. Hebert Vice President-Operations
Tarig Hamza Rahamtalla Vice President-International Operations
Sami Yousif Mohamed VP-Finance & Operations Support
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