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FINANCIAL NEWS
du achieves net income of $88.8m in Q3
08 Nov 2010
(MENAFN) Osman Sultan, Chief Executive Officer of Emirates Integrated Telecommunications Company (du) , announced in a statement that the company has more than doubled its net income during the July-September period of the current year reaching $88.8 million, as opposed to $42.8 million in the same period of the previous year, Gulf News reported.
According to Sultan, the figures register as a 19 percent rise compared to the April-June period, where net income was $74.9 million.
During the third quarter of 2010, revenue reached $476.8 million, compared to $362.4 million in the same period of 2009, and increased by 2 percent compared to the previous quarter’s $463.2 million.
du’s active mobile subscriber base grew by an additional 159,800 users during the third quarter, taking the total at quarter-end to more than four million, thus passing a significant milestone, the CEO stated.
It is worth mentioning that the telecommunications company has recently announced a $255 million financing deal with the Export-Import Bank of China.
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