Etisalat Q1 profits untouched by global crisis - CEO - Technology

Saturday, 4 April 2009 4:12 PM

Etisalat has suffered no impact from the global financial crisis and expects to post positive first-quarter revenue figures, its chief executive has said.

"The corporation did not observe any negative effect of the financial crisis on its first-quarter revenues this year. The first quarter revenues are positive," said Mohammed Al Qamzi in comments carried by the official WAM news agency on Saturday.

Etisalat's finances had been affected by fluctuations in major foreign currencies such as the euro, however, and the operator would be selective in its foreign investments, Al Qamzi added.

Etisalat, the second-largest Arab telecom operator, posted a 19.3 percent decline in fourth-quarter net profit to AED1.42bn.

Market Performance

Emirates Telecommunications Corporation

Last Price:

8.7
0.0	0.0 (%)

Enlarge graph

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Read All 6 Comments

Posted by: Shadab Tuesday, 7 April 2009 7:18 PM[UAE] - UAE

I am in total agreement with Anish, JK and Sami. If you are the only one selling bread, there will always be a long queue at your doorstep no matter how much you inflate its prices. What the government doesn't realises is that the real economic advancement of the country lies in the hand of market liberalisation. Free up your markets and see what amazing results it will deliver. But who is listening!!????

Reply to this comment.

Posted by: JK Monday, 6 April 2009 5:30 PM[UAE]

Etisalat profitability will never be down as they are pretty good in draining the consumers mercilessly. In times of difficulty; people cut cost - how can you cut cost on telephone/mobile expenses in UAE, when VoIP - the technology which allows you to make cheap calls thru internet - is termed illegal ?? Well do we have a choice ??

Reply to this comment.

Posted by: anish salam Monday, 6 April 2009 4:18 PM[UAE] - uae

i feel pitty for etisalat saying that they havent touched by the economic crisis...how many Competitors etisalat have in UAE...Dont say DU who came yesterday...if there is a atleast 5 Competitors in UAE and then etisalat showing there profits .....its fair...otherwise...nobody is intersted in knowing and i bet etisalat cant win in those competetion in UAE with any other external companies

Reply to this comment.

Posted by: sami Monday, 6 April 2009 11:24 AM[UAE]

Yes the profit is not touched because Etisalat is the only chose for us, and they force us to pay what ever they want for their services. ? Phone calls charges are the most expensive compared with other GCC countries ? Internet service very expensive (and very slow) ? Mobile charges are high, and less free service compared with other operators in the regions.

Reply to this comment.

Posted by: Babeck Sunday, 5 April 2009 6:11 PM[UAE] - UAE

he says results are positive. last quarter was also positive, but 20% down compared the same time last year. so if net profit down to 1 Billion AED (but still positive!) it is more than 50% lower compared that of last year.

Reply to this comment.