Etisalat sees first half profit rise 33%

Etisalat yesterday posted a 33% increase in net profits to approximately US$1 billion (AED 3.73 billion) for the first half of 2007.

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By  Michele Howe Published  July 12, 2007

Etisalat yesterday posted a 33% increase in net profits to approximately US$1 billion (AED 3.73 billion) for the first half of 2007.

Company chairman Mohammad Hassan Omran said the results had exceeded the firm's expectations.

"The financial results for the first half of this year demonstrate the company's diverse capabilities and competitive strengths," he said.

"This is a direct outcome of the company's strategy and commitment to providing the highest quality and most user-friendly services and telecommunication solutions, which help Etisalat maintain its position as the UAE's operator of choice."

The UAE telco said it had added an extra one million subscribers to its mobile services over the past year and now has nearly six million mobile subscribers in total.

Etisalat's challenger du, which launched its mobile operations at the start of this year, in July said it had more than half a million subscribers.

As of the end of June 2007, Etisalat's fixed line services reached 1.31 million lines and internet subscribers 800 thousand lines.

New services launched by the telco operator in the last six months included its push mail and international calling plans.

As previously announced, the operator also upped its investment in Africa-based operator Atlantique Telecom to 70%.

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