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FINANCIAL NEWS
Dubai’s du reports USD181m profit in Q1
10 May 2012
(MENAFN) Emirates Integrated Telecommunications Co (du), which broke rival Etisalat’s monopoly in 2007, reported 61.8 percent increase in quarterly profits before royalty, on higher revenues, Arabian Business reported.
The telecoms operator, which has 46.7 percent of UAE’s mobile market, said it made USD181 million net profit in the first quarter, up from USD112.15 million a year earlier.
CEO Osman Sultan attributed the results to strong mobile data revenue and post-paid subscriber base growth.
Total revenue rose 20 percent to USD653.23 million during the quarter, of which mobile revenue represented USD517.2 million, du said.
The operator’s mobile subscribers base added 320,600, bringing the total number of mobile lines to 5.5 million subscribers. Fixed-line customers increased 13.5 percent to 545,300.
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