Emirates Integrated Telecommunications Company (du) today announced its financial results for the third quarter of 2014 continuing the trend of robust growth in revenues and solid performance on all main indicators.
Key drivers behind du’s solid performance include 36% growth in fixed revenue from Q3 2013 as well as 9% year-on-year growth in mobile revenue. Du continues to deliver world class customer service, shareholder value and contribute to the growth of the U.A.E. economy.
Du’s fourth quarter is likely to be affected by the expected network sharing announcement that will see du and Etisalat sharing the fixed network infrastructure by the end of this year. This move will result in direct competition between the pair on landline and internet service, increasing du’s potential to gain market share as du’s current fixed infrastructure is confined to new developments in Dubai.
Osman Sultan, du’s Chief Executive Officer, commented, “I am pleased to report another quarter of solid growth. These results show that by continuously developing innovative propositions to meet our customers’ requirements and rigorously implementing our efficiency strategy, we are able to deliver more value and steady growth, despite a highly competitive environment.
“Our strong performance is reflected in our net profit before royalty, which was up 27% on 2013 at AED972 million. EBITDA for the quarter reached AED1.29 billion, an increase of 21% compared to the same quarter last year. Data continued to be a key market driver during the quarter which translated into data revenues of AED684 million in Q3 2014, an 11% increase on Q3 2013 as our customers’ demand for connectivity remained strong. The world is evolving to incorporate integrated digital services into a commodity that is used throughout every aspect of our daily lives. The issue for the industry however, remains our ability to monetise data. This challenge is one we are focused on, through the development of innovative service provisions for our customers.” A key focus for du over the coming months and further into 2015, is the company’s contribution to the transformation of Dubai into a Smart City. As such, du recently announced that they are to be the official wifi partner for the initiative that will include the provision of free wifi across 100 Dubai and Abu Dhabi locations.
Source : WAM News Agency for United Arab Emirates
