Etisalat, the UAE’s biggest telecoms operator, reported a 19 per cent rise in first half profit as its mobile subscriber base grew on the back of the Maroc Telecom deal.
Etisalat, with subsidiaries in 19 countries, reported net income of Dh4.5 billion as the number of subscribers across the group rose 27 per cent to 182 million.
Given that the company reported a first-quarter net profit of Dh2.0bn, that would put the second-quarter net at Dh2.5bn (Etisalat did not break out the second-quarter figures in yesterday’s release).
Revenue reached Dh12.6 billion in the half, up 27 per cent from the same period last year.
Etisalat finalised the acquisition of a 53 per cent stake in Maroc Telecom in May, which gave it access to new African markets such as Burkina Faso, Mauritania and Mali.
Also yesterday, Etisalat proposed a cash dividend for the first six month of the year of 35 fils per share. The dividend level is unchanged from last year.
Telecoms operators such as Etisalat are facing pressure on the voice side of their business as Skype and Viber continue to increase in popularity. But mobile and fixed data revenues have helped to drive earnings growth.
Etisalat released the first-half results after markets had closed yesterday. The shares had finished the day’s trading at Dh11.80 each.
So far this year, the Abu Dhabi-listed stock has lagged the market with a scant gain of 0.8 per cent.
selgazzar@thenational.ae
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Types of policy
Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.
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The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
Usain Bolt's World Championships record
2007 Osaka
200m Silver
4x100m relay Silver
2009 Berlin
100m Gold
200m Gold
4x100m relay Gold
2011 Daegu
100m Disqualified in final for false start
200m Gold
4x100m relay Gold
2013 Moscow
100m Gold
200m Gold
4x100m relay Gold
2015 Beijing
100m Gold
200m Gold
4x100m relay Gold
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
The specs: 2018 Mercedes-Benz GLA
Price, base / as tested Dh150,900 / Dh173,600
Engine 2.0L inline four-cylinder
Transmission Seven-speed automatic
Power 211hp @ 5,500rpm
Torque 350Nm @ 1,200rpm
Fuel economy, combined 6.4L / 100km
