Jordan Telecom Group announces 37.8 per cent drop in net profit last year

AMMAN — Jordan Telecom Group (JTG) announced this week that net profit fell by 37.8 per cent in 2013 to JD51.7 million compared to JD83.2 million in 2012. The group’s revenues dropped by 11.7 per cent in 2013 to JD360.3 million compared to JD408 million in 2012, it indicated in a statement e-mailed to The Jordan Times. “The drop is linked to the high competition in the market affecting both mass and business sectors, in addition to the big drop in roaming visitors’ revenues,” JTG said. “The recent decision, during July 2013, to increase the special tax on mobile services from 12 per cent to 24 per cent also had a big negative impact on the mobile revenues.” According to JTG, the subscriber base witnessed a 1.6 per cent increase reaching 4.09 million subscribers at the end of 2013 from 4.03 million subscribers at the end of 2012. Capital expenditures by the group reached JD39.2 million at the end of December 2013 compared to JD38 million at the end of 2012.