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du announces revenues of Dh756.5 million in Q1
DUBAI — Emirates Integrated Telecommunications Company PJSC (du) yesterday announced its first quarter’s financial results for March 31, 2008.
The company reported revenues for the quarter ended March 31, 2008 of Dh756.5 million an increase of 18 per cent from the previous quarter (Dh 639.7 million) and 313 per cent from the comparable quarter in 2007.
The overall results of the company for the quarter was a loss of Dh61.7 million compared with a loss of Dh146.6 million incurred in the fourth quarter of 2007.
Mobile revenue for the quarter has increased on the back of the successful subscriber acquisitions made in the fourth quarter of 2007. This increase in customer base has resulted in a 20 per cent quarter-on-quarter revenue growth, the company said in a Press statement. Fixed line revenues also continue to show significant growth posting a 19 per cent quarter-on-quarter increase reflecting the expansion of the company’s fixed line network
Ahmed bin Byat, Chairman of du said: “du continues to achieve its declared targets and has once again demonstrated a successful operational performance in the first three months of 2008. We are confident this performance will continue to improve and add value to du’s clients as well as its shareholders.”
du’s total number of mobile customers at March 31, 2008 reached over 1,757,000. However, according to its policy of bringing greater clarity into the market, du starting from this quarter, will release the active subscribers’ number. The Telecommunications Regulatory Authority (TRA) has published a definition of mobile subscribers in line with worldwide standards. Under the TRA’s definition, any mobile customer who has made a call, or sent an SMS or MMS, or received a call within the last 90 days is considered an “active subscriber”. du also announced that its active subscribers reached 1,403,000 by the end of the first quarter of 2008.
Osman Sultan, CEO, du said: “We are on track to achieve our target market share of 30 per cent earlier than the declared three years, as can be seen by the growth of our customer base and the performance of our company”
Gross margin in the quarter was reported at Dh464.4m (61.4 per cent), an increase of 25 per cent from the previous quarter (Dh370.2m and 57.9 per cent). Gross margin improvements have been assisted by the international inbound roaming which the company has been able to attract to its network
Quarter-on-quarter growth in overheads where limited to 3.4 per cent while revenues grew by over 18 per cent.
The company reported an EBITDA of Dh1.6 million for the quarter, compared to a negative Dh79.2 million in the fourth quarter.
The Company continued its capital expenditure programme covering both the fixed and mobile networks and invested Dh490.7m in the quarter.
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