Etisalat earns US$381 million

Etisalat has reported its net income for the first six months of 2004. According to a report on Reuters, the company earned an impressive Dhs1.40 billion, or US$381 million during the first half of the year.

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By  Matthew Southwell Published  September 24, 2003

The United Arab Emirates telecommunications monopoly, Etisalat, has reported its net income for the first six months of 2004. According to a report on Reuters, the company earned an impressive Dhs1.40 billion, or US$381 million during the first half of the year. This figure was up from Dhs 1.19 billion, or US$320 million for the same period last year.

The monopoly PPT's operating profit grew to reach Dhs1.4 billion (US$381 million) between January and June, compared to Dhs1.1 billion (US$300 million) a year earlier. Net profit came in at Dhs2.45 billion (US$670 million) in 2002, compared to Dhs2.51 billion (US$680 million) for the same period lat year.

The company is 60% owned by the UAE government while UAE investors hold the remaining stake.

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