Du Q2 profits up 22% to Dh949m before royalty

Emirates Integrated Telecommunications Company (du) today said its revenues grew to Dh3.02 billion in the second quarter of this year, a 13.7% increase against Q2 2013's Dh2.66 billion.

Osman Sultan, du’s Chief Executive Officer, said: "I am pleased to report another quarter of solid growth, with double digit growth across many of our key indicators and an increase in the number of higher-value post-paid customers we serve. These results show that by continuously developing innovative propositions to meet our customers requirements and rigorously implementing our efficiency strategy, we are able to deliver steady growth despite a highly competitive environment."

He said: "Our strong performance is reflected in our net profit before royalty, which was up 22% on 2013 at Dh949 million. EBITDA for the quarter reached Dh1.29 billion, an increase of 17.9% compared to the same quarter last year. Data continued to be a key market driver during the quarter which translated into data revenues of Dh680 million in Q2 2014, an 18.6% increase on Q2 2013 as our customers demand for connectivity remained strong.”

The company said it will issue shareholders with an interim dividend of 12 fils per share as a reward for their continued support.

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