Analysts predict 200% Q2 net profit rise for du
UAE telecom operator seen making AED50m profit, compared to Q2 loss in 2008
UAE telecom operator du is predicted to see its net profit for the second quarter rise by more than 200 percent compared to the same period last year, according to analysts.
The average forecast of four analysts polled by Reuters shows that profits are expected to hit nearly AED50 million, in line with its first quarter net profit of AED47m.
In the second quarter of 2008, du reported a net loss of AED43.91 million while it made a AED62 million loss in the earlier quarter of last year.
Over the first quarter of 2009, du added a further 252,000 active mobile customers. As of March 31, 2009 du’s active subscriber base stood at 2,750,000 and corresponding mobile revenue of AED795 million, a 71 percent increase year-on-year.
Revenues for du’s fixed business, including fixed telephony, TV and Broadband, amounted to AED230 million – a 37 percent year on year increase, reflecting 311,000 lines.
Second quarter net profit estimates for du's rival Emirates Telecommunications Corp (Etisalat) average out at more than AED2.2bn, a fall of 25 percent on the same period in 2008 when the company made a net profit of AED2.99bn