Etisalat Q1 profits flat as sales rise 5%

United Arab Emirates (UAE)-based international telecoms group Etisalat has posted a first-quarter net profit of AED2.11 billion (USD570 million) after federal royalties, an increase of 0.4% on the year-earlier period. Revenues rose 5.1% year-on-year to AED13.10 billion, with the UAE contributing AED7.99 billion. Group customer numbers were up 3% at 144 million. The Etisalat group has operations in 16 markets across the Middle East, Africa and Asia, covering a combined population of more than 520 million.