Du posts bumper Q3 results

2 Nov 2009

UAE telecoms operator Du has posted its results for the three months ended 30 September 2009, recording a 26% increase in revenue year-on-year to AED1.33 billion (USD362 million). Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) for the third quarter of 2009 almost tripled compared to the same period a year earlier to reach AED297.3 million, against AED101.5 million in Q3 2008. The company’s net profit before royalty for the quarter totalled AED157 million, a rise of 398% year-on-year and up 36% compared with the second quarter of 2009. Excluding royalty, net profit rose 150% to AED78.55 million from the year-earlier period. Du’s ongoing capital expenditure programme is expected to exceed AED2 billion in 2009, with AED424 million accounted for during Q3 2009. The company expects to invest a similar amount during 2010.

Du added a total of 233,200 net active wireless customers during the quarter to bring the total to 3.14 million at 30 September 2009, representing a 51% increase from the 2.1 million posted a year earlier. Mobile revenues for the quarter reached record highs of AED940.6 million, an increase of 29% year-on-year. Revenue generated by Du’s fixed business, including fixed telephony, television and broadband internet services, totalled AED241.6 million from 358,000 lines, compared to AED211.8 million during the same quarter in 2008.

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