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UAE telco du profits fall

Reports revealed du's fourth quarter profits in 2015 declined compared to last year

According to Reuters’ calculations, du reported declining profits in its preceding Q4
According to Reuters’ calculations, du reported declining profits in its preceding Q4

Telecom operator du reported a 10.1% fall in its fourth quarter in 2015.

According to Reuters' calculations, du, which ended rival Etisalat's domestic monopoly in 2007, reported declining profits in its preceding Q4.

Based on calculations from previous financial statements, the telco made a net profit of 461.0m dirhams ($125.5m) in the last three months of last year, which was down from 512.7m dirhams in the year earlier.

Its annual profit for 2015 was 1.94bn dirhams ($528m), which was down from 2.11bn dirhams ($574m) in 2014, according to a bourse statement. Furthermore, its annual revenue was 12.34bn dirhams, compared to 12.24bn dirhams in 2014.