Etisalat records 25% profit growth in 2007

UAE incumbent Etisalat has announced its preliminary financial results for the year ending 31 December 2007. Total revenues reached AED21.3 billion (USD5.8 billion), up 31% year-on-year, while net profits were AED7.3 billion, an increase of 25% over the 2006 figure of AED5.86 billion. Mohammed Hassan Omran, the telco’s chairman, said, ‘…operating performance for the year 2007 has been outstanding, with growth recorded in all major areas. Mobile connections have increased by 15% to reach 6.4 million lines. Fixed lines have also increased by 3% and stood at 1.32 million lines. Internet connections now stand at 878,000 lines.’