Etisalat net revenue up 2%
Etisalat Group on Tuesday announced its consolidated financial results for the year ending December 31, 2012 showing two per cent year-on-year growth. Results declared to the Abu Dhabi Securities Exchange indicated Etisalat Group's net revenue for the year was Dh32.9 billion, up 2 per cent year-on-year and its net profit increased to Dh13.2bn before Federal Royalty, up 27 per cent year on year. Upon ratifying the results, Etisalat Group's board approved a full year dividend of 70 fils (Dh0.70) subject to shareholder approval.
Eissa Al Suwaidi, Chairman at Etisalat Group, said: "Strong results in 2012 have demonstrated Etisalat's positive performance in 2012 and enabled Etisalat Group to distribute a total dividend of 70 fils per share (25 fils already paid and 45 to be paid), and in doing so reward our shareholders for their loyalty with added-value on their investments.
"Throughout the year, we continued to invest in emerging markets in the Middle East, Africa and Asia, where we now reach over 139 million customers in 15 countries.
"Our commitment to development through information and communications technology not only positively impacts regional economies through job creation and boosting the gross domestic products in the countries where we operate, but it also positions us to reap the benefits of investing in these rapidly growing economies in the future. In 2012, Etisalat Group benefited from strength and consistency in the UAE market, where it consolidated its position as the largest provider of telecommunications services to the local market.
The investment in next-generation networks and in introducing value-added services also had a positive impact on subscribers attracting an increase to our global subscriber base to 139 million subscribers. The consolidated growth was driven mainly by increases in subscribers across all markets of operation.
"Our focus moving forward will be on continuing to developing the level of service and meeting the expectations and demands of our customers in key markets. We are committed to building the right partnerships with key players to deliver applied services that will improve our customers' lives for the better. Our ongoing investment in innovations in communities across our footprint and the significant increasing demand for broadband and digital services means that Etisalat Group is well positioned to continue to deliver added value to its subscribers, the communities it serves and the Group's shareholders, and will continue to set the tone for 2013 and beyond.
"Part of our commitment to our shareholders is that through our continued success we aim to maintain similar dividend distribution over coming years of operation."
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