Du's Q3 profits beat expectations

Du's mobile market share reaches 45% as profits soar.
Du continued to edge towards mobile parity with Etisalat in Q3.
Du continued to edge towards mobile parity with Etisalat in Q3.

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UAE telecoms operator Du beat analysts' expectations on Monday as it reported a 50% rise in third-quarter net profit, driven by higher data revenue and contract mobile subscribers.

Du made a net profit of AED244.3 million ($66.5m), compared with a profit of AED163.1m in the same period a year ago.

Du, which ended Etisalat's domestic monopoly in 2007, said revenues were AED2.23bn n the quarter, up from AED1.74bn a year earlier.

Mobile subscribers, which accounted for more than 75 percent of quarterly revenue, rose 162,000 from the second quarter to 4.94 million at September-end to give it a 45% market share.

Contract customers, which typically spend more than their pre-paid counterparts, "continued to grow", du said, and now account for 7% of mobile subscribers.

Data revenue rose 46% year-on-year to AED167m, proving just under 10 percent of mobile revenue.

Du said it had 639,700 fixed line customers in the third-quarter, up 24% from a year earlier. It added 16,100 lines in the three months to Sept 30, implying slowing growth
 

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