Etisalat profits climb 58 per cent

14 July 2008
Etisalat, the UAE-based telecoms operator, produced sharply higher net profits between April and June this year, according to the company’s second quarter financial results.

The operator’s net profits climbed 58 per cent to AED3bn ($815m) putting it on track to comfortably beat last year’s record net profits of $2bn.

The latest results also highlight the fact that profit growth at Etisalat accelerated between March and June. In the first three months of the year, Etisalat’s net profits climbed 15.5 per cent to AED2.1bn ($572m), compared with the same period in 2007.

Etisalat’s net profits grew by more than twice the rate of its revenues in the latest quarter. Revenues reached AED6.4bn ($1.74bn), up 22 per cent on the previous year.

The company will soon announce how many customers it has in the UAE. Etisalat will also disclose the number of active customers at its Egyptian and Saudi Arabian operations, following the introduction of new rules by the regulators in both countries.

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