Du Profits Rise on Cost Cutting Measures
Published on: 2nd May 2013
Note -- this news article is more than a year old.
UAE based mobile network operator, Du has reported a 10.7% rise in its first quarter revenues of AED 2.63 billion (USD715 million), while net profits were up by 40.5% to AED 468 million (USD127 million), thanks largely to cost cutting measures.
The company added 182,261 new customers, taking its total customer base at the end of March to 6.64 million. The company estimates its mobile market share at 48.1%.
Mobile revenues increased by 11.13% year on year, reaching AED 2.06 billion, compared to AED 1.85 billion in Q1 2012, but saw a slight decrease of 1.65% on the previous quarter.
Osman Sultan, du's Chief Executive Officer, said, "The quarter saw a solid performance across all areas of the business, with a double digit rise in total revenues on the same period in 2012. Growth in mobile data revenues reflects the ongoing shift in network traffic from voice to data, a trend we expect to continue, consistent with sector developments worldwide."
The company spent AED 368 million during the quarter on network upgrades.