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Higher income sees UAE telco Etisalat report rise in profit

Etisalat reported a profit of $2.3bn on a revenue of $14.26bn

By Staff writer
Etisalat said the increased profit was attributed to growth in revenues of international operations and strong performance of fixed and other segments in the UAE.
Etisalat said the increased profit was attributed to growth in revenues of international operations and strong performance of fixed and other segments in the UAE.

UAE’s largest telco operator Etisalat reported a 2.4 percent increase in its 2018 full-year net profit.

An increase in both local and international income saw Etisalat report a profit of $2.3bn (AED8.6bn) in its statement to the Abu Dhabi Securities Exchange.

Etisalat said the increased profit was attributed to growth in revenues of international operations and strong performance of fixed and other segments in the UAE.

The company reported a revenue of $14.26bn (AED52.4bn) during 2018, up 1.4 percent on 2017.

Etisalat has operations in the Middle East, Africa and Asia. The announced last year that it will roll out 5G – the ultra-fast broadband service – selected locations in the UAE this year, which will gradually expand to other parts of the country depending on consumer demand and requirements.

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