Etisalat (UAE) earns a profit of 37.2% in H1′08 with it’s subscribers growing at the rate of 7%.Etisalat, the UAE’s largest telecoms operator said monday that its first-half net rose 37.2% year -on-year to US$ 1.3 Billion (AED 4.79 Billion), due to higher revenues and and increase in mobile subscribers.
Earnings Per share (EPS) for H1, 2008 rose to USD 0.23 billion from USD 0.16 billion. This was reported by the UAE Mobile Operator, Etisalat, to the Abu Dhabi bourse website.
Etisalat’s second-quarter net profit rose 64.3% to US$ 0.77 billion (AED2.84 billion) from US$ 0.46 billion (AED1.72 billion) a year earlier, the company said.
Etisalat’s mobile subscribers grew 7% to 6.77 Million from 6.327 million 6 months earlier.(Source Annual Report 2007 on the Etisalat Website).
Ps: Etisalat acquired an additional 12% in West Africa Atlantic Telecom, raising its stake to 82%. Earlier, it had informed that it might bid for Iran’s third mobile license and also submit an offer for a US$ 1 billion stake in India’s Tata Telecom (Tata Indicom).
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