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FINANCIAL NEWS
UAE- du posts USD270.6m profit in Q4
19 Feb 2013
(MENAFN) UAE du announced that its net profit during the fourth quarter of 2012 grew to USD270.62 million, compared with USD119.76 million in 2011’s same period, reported Reuters.
The country’s second-biggest telecom operator attributed the growth to a rise in its subscriber base, and to the write back of tax provisions.
In the last three months of the year, revenue rose to USD745 million, up from USD653 million.
The company said that its share of the UAE mobile subscribers went up to 48.7 percent, with the average revenue per user reaching USD31.84 in the quarter, compared with USD29.93 in the previous 3-month period.
Du said that mobile revenue in the quarter reached USD593 million, with post-paid subscribers contributing with 23.5 percent of that amount.
Meanwhile, the telco said that it paid USD229.72 million in royalty fees for 2012, while pre-royalty net profit was USD767 million, equal to a tax rate of nearly 30 percent.
In 2011, du paid USD194.60 million in royalty fees, and pre-royalty net profit stood at USD492 million, which was equivalent to a tax rate of 39.5 percent.
It is worth noting that in 2007, du ended rival Etisalat’s domestic monopoly.
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