UAE's du telecom posts 15.5pc rise in Q2 profits

July 24, 2014 - 2:40:40 pm

ABU DHABI: The UAE's second largest telecommunications operator, du, reported Thursday a 15.5 percent increase in net profits in the second quarter of 2014 as fixed revenue and data return expanded.

The company said its net profit in the second three-month period was 548 million dirhams ($149 million), up 15.5 percent compared with the corresponding period last year.

Gross profits hit 949 million dirhams, up 22 percent from the previous year, while total revenues grew 13.7 percent to 3.02 billion dirhams.

Fixed revenue increased 30 percent to 541 million dirhams, while mobile data revenue surged 18.6 percent to 680 million dirhams.

Mobile revenue, meanwhile, increased 9.5 percent to 2.26 billion dirhams.

"Data continued to be a key market driver during the quarter," du's chief executive officer Osman Sultan said in a statement.

The firm ended the domestic monopoly of rival Etisalat in 2007.

It is 39.5 percent-owned by the UAE federal government, 20.075 percent by Abu Dhabi's Mubadala Development Company, 19.5 percent by Emirates Communications and Technology Company and the rest by public shareholders. (AFP)