du posts $39.9m Q4 loss, beats forecasts
Dubai, February 14, 2008
Du, the UAE's second telecom operator, made a fourth-quarter loss of Dh146.65 million ($39.92 million), beating analysts' forecasts.
The company posted a loss of Dh885.27 million in 2007, it said in a statement, without giving quarterly data, which
Reuters calculated based on earlier financial data.
This compares with a loss of Dh280.3 million in the fourth quarter of 2006 and Dh608.92 million for the whole of that year.
Analysts' forecasts for du's fourth-quarter losses ranged from Dh179.58 million and Dh219 million in a Reuters survey in December. The average was for a loss of Dh204.45 million.
The company posted a loss of Dh738.62 million in the first nine months of 2007, according to financial statements posted on the stock market regulator's Web site.-Reuters