Monday 6 July 2020

Du nine-month net profit tops $383m

DUBAI, November 1, 2018

Dubai-based Emirates Integrated Telecommunications Company, commercially rebranded as du, posted a 9.2 per cent jump in its nine-month net profit after royalty.

Net profits totalled Dh1.41 billion ($383.8 million) for January to September and revenues for the period increased by 4.8 per cent to Dh10.01 billion ($2.7 billion).

Osman Sultan, EITC’s chief executive officer, said: "I am pleased to report a strong revenue growth and increased profitability for the nine-month period."

He noted that fixed line revenues are "very healthy" and continue to show strong growth, up 7.8 per cent to Dh1.72 billion ($468.2 million) in the first nine months of 2018.

Despite more pressure in the pre-paid market, mobile revenue remained stable at Dh5.40 billion ($1.4 billion), driven by growth in the post-paid customer segment, he added.

“As we look towards a smart future, we are working diligently to bring next-generation technologies such as 5G, IoT, AI, and blockchain into our network."

"We are operating in an environment characterised by rapid change and disruptive innovations and we are proud to be at the forefront of the digital revolution. We have a clear vision and well-defined framework to become an ICT service provider by 2021 and support the UAE Vision 2021 strategy," Sultan said. - TradeArabia News Service

Tags: du | Dubai | Net Profit |

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