Du posts 54% rise in Q1 revenue

United Arab Emirates telecoms operator Du (Emirates Integrated Telecommunication Company, EITC) has posted its fiscal results for the three months ended 31 March 2009, recording a 54% year-on-year rise in revenues to AED1.166 billion, compared to AED756 million for Q1 2008, attributed to a substantial increase in its subscriber base. The company added 252,000 wireless customers in the first quarter of 2009 to end the period with a total of 2.75 million; mobile revenue was AED795 million, a 71% increase year-on-year. Revenues for Du’s fixed business, including fixed telephony, TV and broadband, amounted to AED230 million, representing a 37% year-on-year increase, while total lines in service stood at 311,000. The Dubai based operator also reported net profits of AED47 million in Q1 2009, compared to a net loss of AED62 million in the same period of 2008. Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) stood at AED 159 million, compared to AED2 million in the first three months of 2008. Ahmed Bin Byat, chairman of Du, commented: ‘With significant year-on-year revenue growth translating into uplift in gross margin, these results are testament to Du’s strong performance. In the first quarter of 2009 we have continued to build upon our considerable success in 2008 and I firmly believe that the company is well positioned to prosper throughout 2009 and into 2010. However, we are not complacent and are fully aware of the challenges presented by both a global economic recession and a highly competitive telecommunications market.’