Du sees fourth quarter profit drop 10%

23 Feb 2015

United Arab Emirates (UAE) telco Du has reported a net profit of AED512.7 million (USD139.6 million) for the final three months of 2014, down 10% year-on-year due to higher taxation on its earnings. Revenues for the fourth quarter jumped 12% to AED3.23 billion, the company said in a statement. Meanwhile, profit for the full year climbed from AED1.99 billion in 2013 to AED2.11 billion last year. The firm warned, however, that 2015 may be a tougher year: ‘Du is likely to continue to experience pricing pressures from competitors and the popularity of VoIP (voice-over-IP) services, a trend the entire industry is facing.’

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