UAE telco du reports 14.9% rise in fourth-quarter net profit

UAE telco du reports 14.9% rise in fourth-quarter net profit
Du’s fourth-quarter revenue was Dh3.45 billion, up 0.5 percent from the same period a year earlier. (Courtesy du)
Updated 15 February 2018

UAE telco du reports 14.9% rise in fourth-quarter net profit

UAE telco du reports 14.9% rise in fourth-quarter net profit

DUBAI: Du, the United Arab Emirates’ second-biggest telecom operator, reported a 14.9 percent rise in fourth-quarter net profit on Thursday, boosted by a rise in revenue, improvement in gross margin and cost savings.
The company, which ended rival Etisalat’s domestic monopoly in 2007, made a net profit after royalty of Dh425 million in the three months to December 31, up from Dh370 million in the year-earlier period.
SICO Bahrain forecast du would make a quarterly profit of Dh430.2 million.
Fourth-quarter revenue was Dh3.45 billion, up 0.5 percent from the same period a year earlier.
The company said its board of directors had proposed a total annual dividend payment of Dh0.35 per share, up from Dh0.34 per share for the previous year. It had already awarded an interim dividend of Dh0.13 per share in October.
In January last year, the company announced it had acquired a license to operate Virgin Mobile-branded services in the UAE.