Iraq's Asiacell Reports Revenue Growth for Q1

Mobile phone service Asiacell has reported revenue growth or nearly 2% in the first quarter of this year.

In its results for the quarter ended 31 March 2020, the company said: "Asiacell reported revenue growth to QAR 1.09 billion (~US$299.2 million) in Q1 2020, up from QAR 1.07 billion (~US$293.7 million) in Q1 2019. The company maintained a healthy EBITDA margin of 44% in Q1 2020, while EBITDA grew to QAR 473 million (~US$129.8million), marginally up from QAR 471 million (~US$129.3 million) reported for the same period last year. Asiacell's customer base increased by 5% to reach almost 15 million customers at the end of Q1 2020 as the company supported the government's calls to stay at home by delivering SIMs & scratch cards to customers' doors through mobile buses. Customers also benefited from extended payment plans during the period to help ease the burden on their personal finances. The company continued to support communities across Iraq by donating to the Iraqi government and to the government of the Kurdistan Autonomous Region to manage the current crisis as well as extending an education campaign across its social media channels and through recorded call announcements encouraging citizens and residents to stay at home."