UAE telco du sees profit more than double in Q4

UAE telecommunications provider du more than doubled its profit after royalties during the fourth quarter to US$270m, compared to the same period in 2011, according to the company.
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The figure topped off a record year for annual revenues and profit, with du recording a net profit after royalties of US$540m, up from US$300m in 2011.
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The company’s revenue increased 14.7 percent to US$2.77bn during the year, while net profit before royalties grew 55.8 percent to US$768m year-on-year.
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The telco said it attracted more than 1.2m new customers in 2012, including nearly 500,000 in the fourth quarter, taking its market share to an estimated 48.7 percent, up from about 47 percent. The company competes with larger rival Etisalat in the UAE's fixed line, internet and mobile telecommunications markets.
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Read more: http://www.arabianbusiness.com/uae-telco-du-sees-profit-more-than-double-in-q4-490133.html