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FINANCIAL NEWS
UAE’s du reports 25.2% increase in 2011’s revenues
06 Mar 2012
(MENAFN) Dubai’s du said that in 2011, revenues jumped 25.2 percent from a year earlier to USD2.42 billion, reported Emirates 24/7.
The Emirates Integrated Telecommunications Company PJSC added that net profits after royalty went up 10 percent to USD299 million from USD272 million in 2010, whereas before royalty, profits surged by 47.8 percent to USD489 million from USD326 million.
The telecom operator also said that royalty payable to the UAE Federal Government for 2011 rose to USD194.62 million from USD50 million in 2010, comprising 15 percent of net profit and 5 percent of total revenues.
It is worth noting that du’s free cash flow last year grew to USD381 million, from USD9.79 million a year earlier.
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