Emirates Integrated Telecommunications Company, the Dubai telecoms operator known as du, reported a 42.7 per cent increase in its third-quarter net profit – its highest quarterly profit in three years – driven by a surge in customers and rising revenue.
Net profit for the three months to the end of September was Dh719 million ($196 million), the company said on Monday in a filing to the Dubai Financial Market, where its shares are traded.
Revenue rose about 9.1 per cent annually to nearly Dh3.6 billion, driven by a 7 per cent growth in mobile services revenue to more than Dh1.6 billion. Fixed service revenue stood at over Dh1 billion, up 7.9 per cent.
The company’s mobile customer base increased 2.7 per cent annually to 8.3 million subscribers. It reported 71,000 net-additions in the July-September period and 218,000 over the past 12 months.
The company said the growth was driven by a “robust 12.5 per cent growth in postpaid subscriber base supported by … compelling consumer offers, such as unlimited data plans and special roaming bundles for the holiday season”.
Its fixed customer base grew 14.2 per cent annually to 655,000 subscribers, with 24,000 net-additions in the last quarter and 81,000 over the past one year.
Du's nine-month profit, meanwhile, surged 49.7 per cent to more than Dh1.9 billion as revenue rose 6.8 per cent to nearly Dh10.8 billion.
“We continued to execute our strategy of strengthening our core connectivity business while selectively expanding beyond the core to position ourselves as a leading integrated digital services enabler,” said Fahad Al Hassawi, du’s chief executive.
“These results highlight the alignment of our products with customer needs and the high quality of our infrastructure. Our strong cash generation and healthy balance sheet provide us with the flexibility to invest in future growth opportunities and deliver strong returns to our shareholders.”
Du is also aiming to offer “affordable and accessible” cloud and artificial intelligence services in the UAE as it prepares to launch them locally next year.
The company will start by offering cloud and AI services to government agencies by the first half of 2025, competing with major players like Microsoft, Amazon and Google in the UAE market, Mr Hassawi told The National in September.
In the third quarter, du's earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 16.9 per cent on a yearly basis to over Dh1.7 billion.
Ebitda growth was driven by a “combination of revenue growth, an improved revenue mix and an effective management of operating expenses”, the company said.
Du’s capital expenditure for the last quarter stood at Dh511 million. The company said it will continue extending its 5G coverage focusing on densification and indoor coverage, as well as introducing fibre in new and existing developments.
The company's operating free cash flow increased by 27.9 per cent to more than Dh1.2 billion.
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
THE BIO
Ms Al Ameri likes the variety of her job, and the daily environmental challenges she is presented with.
Regular contact with wildlife is the most appealing part of her role at the Environment Agency Abu Dhabi.
She loves to explore new destinations and lives by her motto of being a voice in the world, and not an echo.
She is the youngest of three children, and has a brother and sister.
Her favourite book, Moby Dick by Herman Melville helped inspire her towards a career exploring the natural world.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
A list of the animal rescue organisations in the UAE
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
UAE currency: the story behind the money in your pockets
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
UAE currency: the story behind the money in your pockets
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if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
