Etisalat’s profit climbs 7% in H1
dubai — UAE telecom giant Etisalat on Wednesday said its UAE net profit for the first-half of 2017 amounted to Dh4.2 billion, an increase of seven per cent over the same period last year on higher subscription and revenues during the period.
The company’s revenue in the UAE increased three per cent to Dh15.4 billion while subscriber base reached 12.4 million, representing year-on-year increase of two per cent, it said in a statement on Wednesday.
The company also announced distribution of interim dividend of 40 fils per share for the firsthalf of 2017.
Overall, group consolidated revenues totalled Dh25.3 billion while operating profit before federal royalty reached Dh8.8 billion. Its aggregate subscriber base reached 139 million during the first six months of 2017, said the statement.
Essa Mohamed Al Suwaidi, Chairman of Etisalat, said the company showed agility in the first-half, adapting to the changes in the telecom industry.
“We also proved our strong position by dynamically managing challenges in some international markets. The financial performance laid a solid foundation for innovation allowing us to continue investing in the development of next generation infrastructure while maintaining our focus on digital transformation, which in turn has a significant impact on enhancing the overall customer experience.”
During the second-quarter, Etisalat UAE net profit increased six per cent year-on-year to Dh2.2 billion. Revenues reached Dh7.8 billion during the quarter. Etisalat UAE’s Ebitda for the secondquarter totalled Dh4.3 billion, representing four per cent increases quarter-on-quarter. Eng. Saleh Al Abdooli, CEO of Etisalat, said: “Group’s financial performance in the first-half of 2017 reaffirms our strong position and demonstrates our flexible strategy in adapting to the developments and changes in the telecom sector… Etisalat responded with confidence overcoming these challenges while maintaining a sustainable business portfolio.”
He said: “Our focus will be to continue investing in futuristic solutions and next generation technologies to deliver the bestin-class services and solutions to our customers while ensuring that shareholders gain long-term value from businesses.” — waheedabbas@khaleejtmes.com