UAE’s Etisalat rings in $2.6bn profit in Q2 2013

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Etisalat 2013 Q2 revenues up 20%, hits AED 9.8 billion (USD 2.6 billion).
H1 2013 revenues reaches AED19.5 billion, up 18% compared to same period last year.
Etisalat’s Global subscribers increase to 143 million in Q2 2013, up from 141 million during the same period last year.

etisalat revenues
Etisalat Group announced strong results for Q2 of 2013, with quarterly consolidated revenues and subscribers in its operating markets showing impressive growth. Photo: Almas Baig/Flickr

Etisalat Group announced strong results for the second quarter of 2013, with an increase of both quarterly consolidated revenues and subscribers across its operating markets.

Group revenues during the second quarter of 2013 reached AED9,882 million, representing an increase of 20 percent in comparison to the same period of last year and an increase of 3 percent in comparison to the first quarter of 2013.

During the quarter, group consolidated revenues were affected by a change in the accounting treatment of operations in Pakistan, which was consolidated from January 1st 2013 the company said today in a press release.

In the UAE, revenues of AED6,303 million for the quarter were 12 percent higher than in Q2 of 2012. The quarterly year-on-year growth in revenue was primarily due to customer acquisition, an increase in the revenues of data and handsets sales.

Revenue from international consolidated operations grew by 50 percent to AED3,513 million, representing 36 percent of consolidated revenues.

Etisalat Group’s H1 2013 revenue increased to AED19.5 billion compared to last year’s first six months where it was AED16.5 billion.

Ahmad Abdulkarim Julfar; “The outstanding performance of Etisalat UAE and positive performance in Asia are reflected in our Q2 results. The board’s declaration of an interim dividend of 35 fils per share is a strong indication of our steady performance and the success of the group’s strategic plan, which has been supported by a clear and ambitious vision from our top executives and smooth execution by a talented work force.

Etisalat’s commitment to communities and investment in human capital, technology and innovation is enabling growth across our operating markets, and this is reflected positively in the results.

These results demonstrate that Etisalat Group is absolutely on the right track and able to continue to add value to its subscribers, shareholders, employees and the communities it serves.” — Ahmad Abdulkarim Julfar, Chief Executive Officer at Etisalat Group

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