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Du third-quarter profits reach Dh31 million
Emirates Integrated Telecommunications Company (du) announced on Sunday that the company made profits of Dh31 million during the last three months.
- By Nadia Saleem, Staff Reporter
- Published: 14:36 November 2, 2008
Dubai: Emirates Integrated Telecommunications Company (du) announced on Sunday that the company made profits of Dh31 million during the last three months.
The telecom operator has reached profitability after 19 months of operations, a year ahead of financial plans announced when they started trading in February 2007.
Their total revenues at end of September 2008 surpassed Dh1 billion for the first time, at an increase of 157 per cent since same period last year.
The earnings before interest, tax, depreciations and amortisation (EBITDA) were Dh101 million, up form a loss of Dh186 in third quarter 2007.
The company had a net loss of Dh242 in the third quarter last year and moved up to a loss of Dh44 million in second quarter this year, and finally reaching Dh31 million in profits at end of third quarter 2008.
A strong growth in subscribers was seen in the third quarter. An additional of 453,000 subscribers contributed to the total amounting to 2.6 million.
The company said that the number of active subscribers exceeded expectations, reaching 2 million, up form 659,000 in the same period last year.
The fixed line subscribers reached 248,000, witnessing an increase of 30,000 in the quarter.
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