Published on: 25th Jul 2012
UAE based Etisalat has reported a 17% rise in its second-quarter profits of
Dh1.9 billion (US$517.3 million) while revenues
rose by 4 percent to Dh8.25 billion.
The company was boosted by higher performance in its international markets
which offset weakness at home.
Etisalat chairman Eissa Mohammad Al Suwaidi
said the growth in profits was “on the back of strong market development in
Egypt, Benin, Gabon, Togo, Afghanistan and Sri Lanka”.
The company has operations in 17 countries in total.
The rise in profits also marks a reversal of the previous couple of years,
when eight out of nine quarters reported declining profits. The company had been
hit in recent years by the costs of its failed attempts to buy Zain and the
write down of its Indian subsidiary after its licenses were cancelled.
Tags: [United Arab Emirates ]
Article source: http://www.cellular-news.com/story/55554.php