Etisatalat posts 9 percent growth in Q3 revenue

Etisalat Group has recorded a 9 percent growth in
third quarter revenue, resulting in year-to-date Group revenues of AED 24.01

Revenue earned from international operations contributed 26 percent to
overall revenue and increased 18 percent on the
same period last
Etisalat announced profits of AED 5.13 billion in the first nine months
of 2011.

“Our performance has improved due to our ongoing initiatives to add new
revenue streams and optimise our costs,” said Mohammad Omran, chairman,

“Etisalat has shown a positive operational performance trend in the
local UAE market during the last quarter, while delivering continued revenue
and earnings growth in our international operations. We are confident
that we will
see this trend continue as the year goes on,” Omran added.

Etisalat spent AED 3.0 billion in capex to date, of which more than 50
has been spent overseas to capture value in the Group’s high growth markets.

Its new group CEO Ahmad Abdulkarim Julfar will be leading the
Corporation towards realizing its strategic goals and synergies.

Etisalat maintained its strong capital base supported by a robust cash
position of AED 10.5 billion as of 30 September 2011.

The Group remained well funded with sufficient liquidity to service debt
and finance capital expenditure across its global footprint.

By Team
[email protected]