du reports increased net loss despite strong revenue growth

1 Aug 2007

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.’

United Arab Emirates, Du (Emirates Integrated Telecommunication Company, EITC)