Investment Community Positive on Omantel 2015 Results
Omantel’s FY 2015 performance has been well received by market analysts, with leading advisors upgrading their share recommendation from ‘Hold’ to ‘Buy’ for the telecommunication stock. In a Feb 15th note to investors, financial market research firm NBK Capital lifted its recommendation on Omantel shares from ‘Hold’ to ‘Buy’, noting that FY2015 operational results were 2% better than analysts’ forecasts while noting net income was impacted by the impairment of WTL and VEoS program, saying ‘Excluding these exceptional items, group net profit would have been OMR 118.2 million, just 3% short of our net income forecast of OMR 122 million.’ The note to investors concluded, ‘our recommendation has changed from Hold to Buy.’
Omantel’s FY 2015 performance has been well received by market analysts, with leading advisors upgrading their share recommendation from ‘Hold’ to ‘Buy’ for the telecommunication stock. In a Feb 15th note to investors, financial market research firm NBK Capital lifted its recommendation on Omantel shares from ‘Hold’ to ‘Buy’, noting that FY2015 operational results were 2% better than analysts’ forecasts while noting net income was impacted by the impairment of WTL and VEoS program, saying ‘Excluding these exceptional items, group net profit would have been OMR 118.2 million, just 3% short of our net income forecast of OMR 122 million.’ The note to investors concluded, ‘our recommendation has changed from Hold to Buy.’