UAE telco Etisalat Q4 profit falls 12%

Etisalat net profit down to AED1.97bn, misses forecasts

Tags: Etisalat International - UAE
  • E-Mail
UAE telco Etisalat Q4 profit falls 12% Etisalat reported a 12% drop in Q4 net profit.
By Staff Writer Published  February 15, 2018

UAE telecoms company Etisalat on Wednesday reported a 12% fall in fourth-quarter profit, according to Reuters calculations.

Etisalat, which directly and indirectly operates in countries across the Middle East, Africa and Asia, made a net profit of 1.97 billion dirhams ($536.4 million), in the three months to 30th December, Reuters calculated from annual financial statements in the absence of a quarterly breakdown.

This compares with a net profit of 2.24 billion dirhams in the same period a year ago.

SICO Bahrain forecast the company would make a net profit of 2.21 billion dirhams.

Abu Dhabi-listed Etisalat reported annual profit for 2017 of 8.44 billion dirhams, up from 8.42 billion dirhams in the year earlier.

It said consolidated revenue for 2017 dropped 1.3% mainly because of the impact of unfavourable exchange rate movements in the Egyptian pound against the dirham.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code