UAE’s du posts bumper Q2 profits
Net profits after royalty surges 45.64% year on year
Du, the UAE's second mobile operator, turned in another strong financial performance in the second quarter of the year.
Net profit after royalty increased 45.64% year on year, reaching AED 474 million ($129m) compared to AED 326 million in Q2 2012 and AED 468 million in Q1 2013, the telco said.
Revenues increased 12.05% year on year to AED 2.66 billion, up from AED 2.37 billion in Q2 2012. Mobile revenue increased 13.33% year on year to AED 2.07 billion, up from AED 1.82 billion in
Mobile data revenue increased 44.81% year on year to AED 573 million from AED 396 million in Q2 2012. Wholesale revenues increased 33.05% year on year to AED 133 million from AED 100 million in Q2 2012
Du's total mobile customer base reached 6.6 million active mobile customers, a 16% increase in customers from Q2 2012.
Postpaid mobile customers now represent 8.9% of the mobile customer base, up from 7.8% in Q2 2012.
Prepaid mobile customers increased to 6,064,043, a 14.78% increase from Q2 2012.
Fixed line subscribers increased to 578,026, a 5.74% increase from Q2 2012.
Osman Sultan, CEO, du, said: "We are delighted to return AED 1.0 billion to our loyal shareholders this quarter by way of a special dividend and the start of Du's interim dividend programme. Our balance sheet and cash generation remains strong, and we are committed to generating attractive and sustainable returns to our shareholders by balancing the long-term investment needs of our business and shareholder expectations.
"Thanks to further progress made during the first half of this year in our key areas of strategic focus - market leading products and services and driving cost efficiencies through our business - we have achieved good growth in revenues and profits and our margins remain strong," he added.