du revenues reach AED6.33billion in H1

DUBAI / Emirates Business

Emirates Integrated Telecommunications Company PJSC (du) published its financial results for Q2 2019, reporting AED3.19 billion revenues, AED 1.47 billion EBITDA and AED464 million net profit after royalty for the second quarter of the year.
For H1 2019, EITC reported revenues of AED6.33 billion, EBITDA of AED 2.89 billion representing growth of 1.7 percent when compared “like-for-like” for the same period in 2018 and a net profit after royalty of AED 913 million representing a growth of 11.3 percent when compared “like-for-like”.
Mohamed Al Hussaini, Chairman of EITC, said, “Our company achieved in Q2 2019 a good performance as we recorded a 2.5 percent (5.5 percent“like-for-like”) growth in net profit after royalty when compared to the same period last year reaching AED 464 million. I am pleased to announce that our Board of Directors has approved an interim dividend of AED 589 million representing 13 fils per share.”
“EITC’s extensive investment in the latest technologies and infrastructure enhances our competitiveness and enables us to continue upgrading our services to meet our customer requirements. In doing so,
we actively support the UAE’s ambitious digital transformation agenda as set out by the forward-looking leadership of the nation.”
Commenting on the results, Osman Sultan, EITC’s Chief Executive Officer, said, “It is clear that our efficiency plan and investments in new technologies to drive forward our digital strategy and prepare our company for the needs of tomorrow allowed us to contain the erosion of EBITDA. The result of this has been a solid EBITDA performance of AED 1.47 billion, which contributed in Q2 2019 to a 2.5 percent (5.5 percent“like-for-like”) improvement in net profit after royalty to AED 464 million, compared to the same period last year.”