UAE telco Du posts 62% profit hike

Dubai operator said net income for first three months of 2012 rose to $181m
Osman Sultan said Du had achieved healthy revenue growth in Q1.
Osman Sultan said Du had achieved healthy revenue growth in Q1.

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UAE telecoms operator Du said first quarter net profit before royalty increased 61.8% as mobile revenues more than doubled.

The Dubai-based service provider, also known as Emirates Integrated Telecommunications Co, said net income for the first three months of the year increased to AED666m (US$181 million) from AED412m a year earlier.

“We have achieved healthy growth in revenues, with strong performance from what we believe will be key drivers going forward, including mobile data revenue and our post-paid subscriber base,” Osman Sultan, CEO of Du, said in a statement.

Mobile revenue grew 21.8% to AED1.9bn while total revenue increased 20% to AED2.4bn.

The operator, which competes with Etisalat, added 320,600 mobile subscriptions in the first quarter, bringing the total number of mobile lines to 5.5m.

Fixed-line customers increased 13.5% to 545,300.

The firm, which launched its services in 2007, has a 46.7 percent share of the UAE mobile market.

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