du reports increased net loss despite strong revenue growth

Second national operator du reports that for the second quarter of 2007 revenue grew 184% year-on-year, boosted by a doubling in size of its wireless subscriber base to more than 500,000 users and increased fixed line telephony sales. Revenue came in at AED302.3 million (USD82.3 million) for the three-month period, while net loss widened to AED280.8 million from AED215.84 for the corresponding period last year. In the six months to end-June capital expenditure reached AED899 million as the rollout of the cellco’s GSM and W-CDMA networks continued. Chairman Ahmed bin Byat stated: ‘du has now firmly established itself as a telecom provider in the UAE,’ before adding, ‘we achieved these results despite being a new entrant to a market with unprecedented penetration. We are moving forward with full force, and as promised, we are continuing our dedication to our customers, strategic partners and shareholders.’