Du reveals net profit of $8m

03 November 2008
Emirates Integrated Telecommunications Group, which trades as Du, has generated its first net profit since its incorporation in December 2005. Du produced a net profit of AED31m ($8.4m) in the July to September quarter on revenues of AED1.06bn.

In the same period of 2007, Du made a loss of AED242m because of its high capital spending on setting up a new mobile phone network in the UAE.

Du launched its services in February 2007.

By the end of September, the company had 2.1 million active mobile phone customers or 23 per cent of the total market in the UAE.

"These strong results, where we have achieved our first quarterly profits well ahead of internal planning and market expectations, provide a real endorsement of Du's strategy of focusing on delivering what our customer base in the UAE wants most: high quality, innovative services at competitive pricing levels," says Ahmed Bin Byat, chairman of Du.

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