du Q4 profit falls 10% to Dh461 million

Du, the UAE’s second telecoms operator, reported on Sunday a 10.1 per cent fall in fourth-quarter net profit.

The firm, which ended rival Etisalat’s domestic monopoly in 2007, had reported declining profits in the preceding four quarters according to Reuters data.

Du made a net profit of Dh461 million in the three months to December 31, down from Dh512.7m in the year-earlier period, according to Reuters’ calculations based on previous financial statements.

Beltone Financial forecast du would make a quarterly profit of 584.5m.

Du’s annual profit for 2015 was Dh1.94 billion, down from Dh2.11bn in 2014, according to a bourse statement.

The firm’s 2015 annual revenue was Dh12.34bn. This compares with Dh12.24bn a year ago.

More to follow.


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