FINANCIAL NEWS

UAE- du posts $53m profit in Q1

11 May 2010

(MENAFN) The Chief Executive Emirates Integrated Telecommunications Company, or du, said that its net profit before royalty more than quadrupled to $52.8 million in the first quarter of the year compared to $12.8 million a year earlier, Gulf News reported.

Revenue for the quarter was $430.2 million, a 36 percent increase over last year?s first quarter figures of $317.5 million and a 3 percent increase compared to the fourth quarter of 2009. Gross margin grew by 34 percent year on year and 5 percent quarter on quarter.

Du added 262,000 active mobile subscribers during the quarter, taking its total to 3,739,000, the CEO said.

There was a 47 percent growth in the fixed-line subscriber base from 310,900 lines in the first quarter of 2009 to 456,700 lines in 2010, with 50,900 lines added during the quarter.

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