Local telecom operator said it has added 272,000 users over the past three months.
The second largest UAE telecom operator, Emirates Integrated Telecommunications Co, or more simply ‘du’, has recently published their Q1 results and the situation is as rosy as it can get for the four year-old company.
According to CEO Osman Sultan, the company achieved revenues of AED 2 billion in the first quarter of this year, compared to 1.58 billion during the same period last year.
The telcom said it has added 272,000 new mobile subscribers to its install base and now boasts a large 41% mobile market share in the region.
The first quarter net profit, after paying off royalties, increased to AED 205.8 million from last year’s AED 97.1 million during the same period. Sultan said that the company expects to grow by 20 per cent in 2011 as it plans to span out nationwide with its service before the end of the year.
“Year-on-year growth remains strong and we enter the year in a robust position,” Sultan said in a statement to the Dubai bourse. “We have continued to attract new customers; indeed, we added more customers than any of the quarters in 2010.”
Etisalat, du’s main competitor, reported an 8.9 per cent drop in quarterly profits for this year.