Country: UAE (Lebanon)
The growth of the UAE›s second mobile telco, du, has been nothing short of astonishing.
As CEO, Osman Sultan’s role in the company›s story has been vital. Sultan was behind the launch of the highly successful Mobinil in Egypt in 1998, and in 2007 was behind the launch of du, which is 40 percent owned by the UAE Federal Government, 20 percent by Mubadala Development Company, 20 percent by TECOM Investments and 20 percent by public shareholders.Du more than doubled its profit after royalties during the fourth quarter to $270m, compared to the same period in 2011.
The figure topped off a record year for annual revenues and profit, with du recording a net profit after royalties of $540m, up from $300m in 2011. The company’s revenue increased 14.7 percent to $2.77bn during the year.