Du reports falls in sales and profit in Q1

28 Apr 2021

Fixed and mobile operator Du of the United Arab Emirates (UAE) has reported declines in revenue and profit on a year-on-year basis in the first quarter of the year. Sales dropped to AED2.88 billion (USD784 million) in the first three months of 2021, from AED2.99 billion a year earlier, while net profit fell from AED355 million to AED257 million. On a quarterly basis, however, both revenues and profits were up between Q4 2020 and Q1 2021, showing that the company’s results are rebounding after the impact of COVID-19. Du claimed 6.8 million mobile customers at the end of March 2021.

Acting CEO Fahad Al Hassawi said: ‘Mobility is increasing with the hospitality sector opening up, international tourism improving and people adapting their lives to the COVID-19 situation. Telecommunication needs remains a key component of everyone’s life.’

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