|du's Q2 Profits Jump 57.1%|
The UAE's second telecommunications operator, du, reported a 57.1% jump in net profit for the second quarter to June on a rising customer base and falling operating costs.
The company, which began operations in 2007, said its net profit rose to 651 million dirhams ($177.4 million) compared to 414 million dirhams ($112 million). The net profit figure for Q2 to June was before deducting a 50% standard royalty fee.
It said revenues during the period were up 12.9% to 2.452 billion dirhams ($668.1 million).
The company's mobile customers grew 20% to 5.733 million in the same period, compared with 4.776 million in the corresponding period of last year.
But the growth in its fixed line customers, including Internet and cable television, was at 10.6% to 547,000, it added.
Operating expenses dropped to 733 million dirhams ($199.7 million), or were at 29.9% of revenue, down from 35.2% of earnings in the corresponding period last year.
"The second quarter remained strong for du, with continued healthy customer additions, particularly in the high-value post-paid segment, which now represents nearly eight percent of our mobile customer base," said Osman Sultan, du's chief executive officer.