UAE's Etisalat 2004 Net Profit Up 19%, Revenue Up 13%"

DUBAI (Dow Jones) Emirates Telecommunications Corp. (ETISALAT.AD), or Etisalat, posted a net profit of 3.4 billion dirhams ($1=AED3.67) in 2004, an increase of 19% over the previous year.

In a press release Saturday, the United Arab Emirates' national telecom services provider said revenue climbed 13% to AED10.4 billion.

The company ended the year with 3.7 million wireless connections, and 1.2 million fixed telephone lines, an increase of 24% and 5% respectively.

In 2004, Etisalat had its monopoly over the UAE telecommunications removed, although a competitor to the company has yet to establish operations in the country.

-By Mohammed Hadi, Dow Jones Newswires; 97150-884-1127

(END) Dow Jones Newswires"

Posted to the site on 29th January 2005