COVID hits Du sales and profits in FY 2020

UAE fixed and mobile operator Du has reported revenues of AED11.08 billion (USD3.02 billion) for full year 2020, down from AED12.59 billion the previous year, with the fall attributed in part to the effects of the COVID-19 pandemic. Revenues from the mobile segment dropped from AED7.05 billion in FY 2019 to AED5.94 billion last year, while the fixed segment saw 3% growth, from AED2.49 billion to AED2.57 billion. Profit for the year dropped from AED1.73 billion in 2019 to AED1.44 billion in 2020. Capital expenditure increased 24% year-on-year to AED1.87 billion as the firm continued its rollout of 5G mobile infrastructure. Du claimed 6.66 million mobile subscribers at the end of 2020, down from 6.80 million a year earlier, while the fixed customer base rose 7.4% in twelve months, to 236,000.