Sudan sale hits Etisalat profits

27 Oct 2016

United Arab Emirates (UAE)-based telecoms group Etisalat, which operates across 18 markets in the Middle East, Africa and Asia, has reported revenues of AED13.2 billion (USD3.6 billion) for the three months to the end of September, up 3% year-on-year. Sales in its domestic market were up 4% at AED7.5 billion, while its Maroc Telecom unit saw turnover grow 2% to AED3.3 billion. Net profit after federal royalty was flat at AED1.9 billion, though the firm said profits would have risen 16% if adjusted for the impact of the sale of Sudanese operator Canar in August. Profits for the first nine months of 2016 were up 9% y-o-y at AED6.2 billion. The group claimed 162 million subscribers at the end of September, without providing a like-for-like figure for twelve months earlier.

United Arab Emirates, Etisalat UAE