Etisalat revenue up 4 percent to Dh8.3 billion

Telecom Lead Middle
: Etisalat has posted consolidated revenues of Dh8.3 billion, a
four percent increase year-on-year.

The mobile major announced a net profit of Dh1.9 billion
after federal royalty for its second quarter of 2012, a 17 percent growth
compared to the same period last year.

EBITDA went up by 16 percent to reach Dh4.3 billion.

The telecom operator said that revenue from international
operations grew by 14 percent to Dh2.3 billion.

In the UAE, revenues declined by 0.4 percent to Dh5,643
million in comparison to the same period of last year, while declined by three
percent in comparison to the previous quarter of this year.

We have seen a year-on-year increase of 20.5 per cent in
operating profit and 17 per cent net profit on the back of strong market
development in Egypt, Benin, Gabon, Togo, Afghanistan and Sri Lanka, a result
of our on-going commitment to regional market development and growth,” said
etisalat’s new chairman Eissa Al Suwaidi.

Following the industry trend to invest in overseas markets
over the past decade, we are now focusing on creating value in high population,
high growth markets such as Saudi Arabia, Egypt, Nigeria, Pakistan and
Afghanistan,” Suwaidi added.

Etisalat said that its aggregate subscriber numbers grew to
172 million by the end of June, with a 22 per cent increase from the previous
year, and a two per cent increase from the previous quarter.

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