Jordan Telecom’s 2013 net profits fall 38%
Industry executives say Jordan Telecom faced tough competition last year in a turf war
Jordan Telecom Group, the country's sole fixed-line operator, said its 2013 net profits fell 37.8 percent to $73 million (51.7 million dinars) as revenues dropped in an increasingly competitive market.
The group, in which Orange, formerly called France Telecom, owns a 51 percent stake, said on Sunday revenues of its integrated mobile, internet and fixed-line business fell 11.7 percent to 370 million dinars in 2013 against the previous year.
Industry executives say Jordan Telecom faced tough competition last year in a turf war between three telecom operators and has been hit by higher government taxes.