Dubai firm has big year in telecom

According to recent reports, Investcom of Dubai has reported a huge year for 2005, including a 31% increase in net profits over prior year.

Much of the growth is in mobile phones:

nvestcom had 4.9 million mobile subscribers across the Middle East and sub-Saharan Africa at the end of 2005, up 91 percent from the previous year.

“We have the capacity to keep up strong organic growth,” Mikati told Reuters by telephone from Beirut.

“But we are also looking at non-organic growth opportunities in countries that have low penetration rates and we see quite a few opportunities,” he said.

Huge mobile markets are quickly emerging in the Sub-Saharan market, as this proves. Investcom is situated for more explosive growth, but expects a continued decline on margins, as people become used to the product and competition increases.