Wednesday, 03 December 2008
updated 1 minute ago
03:12 UAE time

YOUR DIRECTORY /

Dubai's Du telecom Q4 loss narrows

by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 14 February 2008

PROFIT BOOST: UAE telcom provider, du, shows revenue surge on Q4. (Getty Images)

The UAE's second telecom operator Du's fourth-quarter net loss narrowed from the year-earlier period as a rising number of mobile users boosted revenue.

The number of Du mobile users reached 1.5 million, the company said, compared with 880,000 mobile users at the end of September.

Du made a loss of 146.65 million dirhams ($39.92 million) in the three months ended December 31, according to Reuters' calculations, beating analysts' forecasts. A year ago, the company made a loss of 280.28 million dirhams.

Story continues below ↓

Du posted a loss of 885.27 million dirhams in 2007, it said in a statement on the Dubai bourse website. The company did not disclose quarterly data, which Reuters calculated based on earlier financial data. The company posted a loss of 608.92 million dirhams in 2006.

Annual revenue came in at 1.54 billion dirhams, while cost of sales was 678.9 million dirhams in 2007, Du said in the statement. From December 28 2005, to December 31 2006 the company posted revenue of 434.03 million dirhams.

Analysts' forecasts for Du's fourth-quarter losses ranged from 179.58 million dirhams and 219 million dirhams in a Reuters survey in December. The average was for a loss of 204.45 million dirhams.

The company posted a loss of 738.62 million dirhams in the first nine months of 2007, according to financial statements posted on the stock market regulator's website.

The company's shares have risen more than 13% this year, after losing more than 12% last year. (Reuters)

READERS' COMMENTS

View all comments (0)

Have your say

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.

Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country

Subject *

Comment *


Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.