Worldcall plunges into more losses

KARACHI: Worldcall Limited posted a loss before taxation of Rs1.51 billion in 2010, a deterioration of 133.6 per cent, compared with a loss of Rs490.82 million in the preceding year.

The company announced its earnings for 2010 in a meeting on Wednesday at the Omantel head office, in Oman. In the meeting, the board also approved an offer from Askari Bank for funding against corporate guarantee from the parent company Omantel for $35 million.

The company’s revenue also dropped from Rs8.41 billion to Rs7.46 billion in 2010.

The board also appointed Shehryar Ali Taseer as the chief executive officer to fill the vacancy created following the assassination of Salmaan Taseer.

The board of directors also fixed the number of directors for next year at seven.

Published in The Express Tribune, January 27^th, 2011.