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Etisalat’s 9-month income falls to $1.52 billion

20 Oct 2010

(MENAFN) UAE’s Etisalat telecommunications company said that its net profits for the first nine months this year fell to $1.52 billion compared with $1.85 billion in the same period of 2009, Gulf News reported.

Revenues stood at $6.34 billion in the first three quarters of 2010 against $6.45 billion in the same period last year, the company said in a statement.

Etisalat’s assets gew by 1.2 percent to $11.13 billion, up from $10.99 billion in the first nine months of last year.

Etisalat’s board chairman Mohammad Omran said the financial results were very much anticipated specially after the telecommunications sector was privatized.

He said the company has been developing a strategy based on diversification of revenues and seeking overseas investment opportunities.

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