Etisalat UAE registers a 7% increase in net profit in H1

Group to continue investing in futuristic solutions, says CEO

Tags: Etisalat Services
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Etisalat UAE registers a 7% increase in net profit in H1 Net profit amounted to AED 4.2bn ($1.14bn) representing 7% increase YoY.
By  Staff Writer Published  July 27, 2017

Etisalat UAE revenues for H1 amounted to AED 15.4bn ($4.2bn) representing 3% increase YoY.

Net profit amounted to AED 4.2bn ($1.14bn) representing 7% increase YoY. Etisalat UAE Subscriber base reached 12.4 million representing (+2% YoY).

Group consolidated revenues amounted to AED 25.3bn ($6.9bn) for the period. The group consolidated operating profit before Federal royalty stood at AED 8.8bn ($2.4bn). Group Aggregate subscriber base reached 139 million.

Essa Mohamed Al Suwaidi, chairman of Etisalat Group said: "The financial performance laid a solid foundation for innovation allowing us to continue investing in the development of next generation infrastructure while maintaining our focus on digital transformation, which in turn has a significant impact on enhancing the overall customer experience."

"Etisalat Group's financial performance in the first half of 2017 reaffirms our strong position and demonstrates our flexible strategy in adapting to the developments and changes in the telecom sector," Eng. Saleh Al Abdooli, CEO, Etisalat Group said.

"Etisalat Group has established a competitive position in the region as a fully integrated ICT solutions and services provider. Today we are proud that Etisalat is a key strategic player in major digital transformation projects in the UAE and beyond. Our recent announcement of the longest submarine cable system is another step to enhance our long-term growth and bring new capacity to UAE making it an international hub."

Eng. Al Abdooli further added that the group's focus will be ‘to continue investing in futuristic solutions and next generation technologies to deliver the best-in-class services and solutions to our customers while ensuring that shareholders gain long-term value from businesses'.

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