Etisalat profits increase to $580m

20 October 2008
Etisalat, the UAE telecoms operator, generated AED2.1bn ($581m) of net profits in its third quarter, an 18.5 per cent increase on the same period in 2007.

The growth in net profits comes despite the fact that some of its ventures, such as Etisalat Misr, are making large losses.

Etisalat's revenues were up 24 per cent at AED6.6bn for the three months to the end of September. In the same quarter of 2007, it generated revenues of AED 5.3bn.

The company's UAE operations had 7.05 million mobile phone customers at the end of September, compared with 6.2 million a year ago.

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