Etisalat Q1 profits untouched by global crisis - CEO

Mohammed Al Qamzi reveals first quarter revenues positive despite downturn.

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By  Joanna Hartley Published  April 4, 2009

Etisalat has suffered no impact from the global financial crisis and expects to post positive first-quarter revenue figures, its chief executive has said.

"The corporation did not observe any negative effect of the financial crisis on its first-quarter revenues this year. The first quarter revenues are positive," said Mohammed Al Qamzi in comments carried by the official WAM news agency on Saturday.

Etisalat's finances had been affected by fluctuations in major foreign currencies such as the euro, however, and the operator would be selective in its foreign investments, Al Qamzi added.

Etisalat, the second-largest Arab telecom operator, posted a 19.3 percent decline in fourth-quarter net profit to AED1.42bn.

3055 days ago
Shadab

I am in total agreement with Anish, JK and Sami. If you are the only one selling bread, there will always be a long queue at your doorstep no matter how much you inflate its prices. What the government doesn't realises is that the real economic advancement of the country lies in the hand of market liberalisation. Free up your markets and see what amazing results it will deliver. But who is listening!!????

3056 days ago
JK

Etisalat profitability will never be down as they are pretty good in draining the consumers mercilessly. In times of difficulty; people cut cost - how can you cut cost on telephone/mobile expenses in UAE, when VoIP - the technology which allows you to make cheap calls thru internet - is termed illegal ?? Well do we have a choice ??

3056 days ago
anish salam

i feel pitty for etisalat saying that they havent touched by the economic crisis...how many Competitors etisalat have in UAE...Dont say DU who came yesterday...if there is a atleast 5 Competitors in UAE and then etisalat showing there profits .....its fair...otherwise...nobody is intersted in knowing and i bet etisalat cant win in those competetion in UAE with any other external companies

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