Middle Eastern Operators Still Growing StrongNovember 2008 | Company Finance Alert
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The global economic downturn is causing companies a lot of concern. Large European operators, like France Telecom, Deutsche Telekom and Telefónica have remained optimistic by sticking to their profit forecasts and have reported positive results, but this still only means looking at fairly flat growth. Others, like BT, have had to issue profit warnings. Not so in the Middle East. As companies' Q308 results continue to emerge, they paint a very different picture to Europe, as the companies ongoing international expansions lead to record profits, and growth in revenue rarely less than 20%.