UAE incumbent telco Etisalat has announced its financial results for the nine-month period ending 30 September 2007. Revenues increased 30% compared to the same period in 2006 to AED15.38 billion (USD4.19 billion). Net profits of AED5.534 billion were reported, up from AED4.39 billion, while CAPEX stood at AED2.28 billion. Its mobile subscriber base rose to 6.2 million by 30 September, while its fixed line and internet operations claimed 1.32 million and 2.5 million customers respectively.
Mohammad Hassan Omran, Chairman of Etisalat, said, ‘Etisalat today is in a powerful position…Our home business is continuing to grow, fuelled by our long-term vision and investment in the latest technologies, but our growth is now also being accelerated by our international subsidiaries.’ CEO Mohamed Al Qamzi aded, ‘We are now planning to introduce our Next Generation Network (NGN) services across the UAE, enabling us to offer bundled triple play services to over 100,000 households.’