Du’s revenue increases 254% in 2007
Emirates Integrated Telecommunications Company, or du, yesterday said revenue grew 254 per cent in 2007, while the number of users increased to cover 30 per cent of the UAE’s population.
At the end of December, du’s mobile phone customer base exceeded 1.5 million, the company said in a statement. The company’s fixed-line, international and wholesale and broadcasting segments also witnessed “swift expansion and steady growth”, it said.
Du achieved Dh639.7 million sales revenues in the fourth quarter, an increase of 55 per cent compared to Dh412.2m in the third quarter and a 388 per cent increase over Dh131.2m logged in the fourth quarter of 2006. Revenue for the year 2007 was Dh1,527.4m.
“We have positioned ourselves as an innovative trendsetter in the UAE telecom sector. We believe the confidence placed in du by all our stakeholders was the key driver behind achieving this significant revenue growth,” Chairman Ahmed bin Byat said in a statement.
Du’s Wow recharge card, the first of its kind prepaid scheme in the world, and the special edition Dh1 mobile phone line “million” pack launched to mark the one million subscriber milestone contributed to the company’s significant revenue growth in the fourth quarter, the statement said.
Investment continues to grow. Capital investment in the fourth quarter reached Dh366m, bringing total capital expenditure in the year to Dh1,635.3m.
This was spent predominantly on “optimising the mobile phone network infrastructure” and extending the coverage across the UAE.
Net cash outflow for the quarter was Dh221.6m, bringing the total cash utilisation in the year to Dh1,557m.
Osman Sultan, Chief Executive, said: “Du surpassed all projected forecasts in 2007.
“I am confident that we have the expertise and capabilities to continue to consistently deliver on these expectations by enhancing the network quality, increasing customer satisfaction, delivering innovative products and services and investing in the human factor.
“These are our constant objectives.
“We differentiated ourselves within the UAE with an unmatched innovative product portfolio, and competitive value in 2007 and 2008 will definitely mark similar significant milestones being achieved.”
Follow Emirates 24|7 on Google News.