Etisalat Posts 19% Rise in 3rd Quarter Profits

UAE based Emirates Telecommunications Corporation (Etisalat) has posted a 19% rise in 3rd quarter profits to AED 2.1 billion (US$571.7 million), along with a 23.8% rise in revenues in the quarter to AED 6.6 billion (US$1.8 billion)

"The growth rates Etisalat has achieved in both financial and operational terms reflect the high levels of efficiency and performance at all levels of its management. This has helped us to become one of the largest regional and international operators," said H.E. Mohammad Hassan Omran, Chairman of Etisalat.

Mohammad Al Qamzi, Chief Executive Officer at Etisalat, said: "Mobile subscriptions in the UAE have now exceeded (7.05 million number) showing an increase of (11 %) compared to the third quarter of 2007, fixed line subscriptions reached (1.36 million), while internet subscribers reached (1.08 million),"

Worldwide, the company says that its total base now exceeds 74 million customers, including fixed-line, Internet, cable TV and mobile subscribers.

The company has also announced plans to launch a range of branded mobile phones to be sold by its network and subsidiaries in 17 countries. It will also negotiate retail agreements with global leaders in mobile phones and devices to maximize the corporateÃ's purchasing power and provide maximum value for its consumers.

EtisalatÃ's subsidiaries can be located in Afghanistan, Egypt, Saudi Arabia, Pakistan, Indonesia, India, Nigeria, Sudan, Benin, Gabon, Burkina Faso, Togo, the Central African Republic, Niger, the Ivory Coast, Tanzania and the UAE.

Posted to the site on 20th October 2008