Etisalat Q3 profit hits Dh5.5 billion

Etisalat chairman Mohammed Hassan Omran

 

(October 15) Etisalat has announced a Dh5.534 billion revenue for the third quarter of this year. The telecommunication firm said the income represented a 30 per cent hike compared to the figures posted in the same period last year.

 

Etisalat’s consolidated revenues for this period was recorded at Dh15.38 billion, showing an increase of Dh3.57 billion from 2006. Earnings Per Share rose to Dh1.11 in the year to date from Dh0.88 in Q3 2006. Net assets also increased in value by 21 per cent in the period to reach Dh25.828 billion by end of September 2007. Capital expenditure for Etisalat reached Dh2.28 billion during this period.

Mohammad Hassan Omran, chairman of Etisalat, said: “Our home business is continuing to grow, fuelled by our long-term vision and investment in the latest technologies, but our growth is now also being accelerated by our international subsidiaries.”

Etisalat’s UAE operations continued to perform strongly with the number of mobile subscriptions exceeding the 6 million mark for the first time. Today Etisalat records 6.2m mobile customers, equivalent to a penetration of 147 per cent. The company also witnessed growth in fixed-line services with telephone subscriptions growing to 1.32m lines and Internet users growth to more than 2.5m.