Dubai: Dubai-based Emirates Integrated Telecommunications Co (du), has the funds available to repay Dh3 billion of debt due next month, while the telco's expanding subscriber base will likely help fuel a 20 per cent rise in revenues this year, du's chief executive said yesterday.
"Part [of the debt] will be paid in cash and part will be refinanced," Osman Sultan told Zawya Dow Jones.
Du has tagged about Dh1.7 billion for capital expenditure this year, Sultan said. Since its launch in 2007, infrastructure spending and network upgrades have been the main focus for the telco.
Du last month said first-quarter net profit, before royalty fees, more than doubled to Dh412 million, from the year earlier.
"What I should have more on my radar screen is sustainable growth... we are tageting 20 per cent topline growth in 2011," Sultan said yestersay.
Du shares closed up 0.6 per cent at Dh3.27 yesterday in a slightly negative overall market.
