Du Q2 profit more than doubles

UAE telecoms operator Emirates Integrated Telecommunications, which operates under the brand Du, has announced that its net profit after royalty for the three months ended 30 June 2010 climbed to AED137.4 million (USD37.4 million), up from AED57.6 million in the same quarter a year earlier. The company’s revenue for the period rose 29% year-on-year to AED1.7 billion and earnings before interest, depreciation and amortisation (EBITDA) jumped 87% to AED454 million. Du’s results were boosted by the addition of 182,100 active mobile subscribers in 2Q 2010, bringing its total wireless user base to 3.921 million, while fixed line customers increased 52% year-on-year to reach 499,900 at 30 June 2010. Earlier this year, CEO of Du Osman Sultan said the company plans to invest around AED2.2 billion in 2010, with the majority of funds to be ploughed into the upgrade and expansion of its mobile network.