Etisalat falls short of profit target

01 February 2010

UAE-based telecom provider Etisalat's 2009 profit was below forecasts as it was hit by a bigger slowdown in growth than expected, reported the National. The company made a profit of Dhs8.84 billion (US$2.4bn) last year, an increase of 3.6% on 2008. Revenues rose by 5% to Dhs30.8bn. However, profit excluding Dhs892m of exceptional income earned in 2008, through the sale of a stake in its Saudi subsidiary, was up by 16%.

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