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Wed 2 May 2007 04:00 AM

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Du’s financial cycle gains momentum

UAE operator du claimed its revenues almost doubled to US$49.89 million during 1Q07 after sales of its triple play services proved popular with end-users.

UAE operator du claimed its revenues almost doubled to US$49.89 million during 1Q07 after sales of its triple play services proved popular with end-users.

After launching its mobile services in February 2007 the company reported revenues of US$49.89 million in the three months to March 31 2007, up from US$25.7 million for the year earlier period.

The company suffered a net loss of US$58.8 million, up from US$15.1 million a year ago. In a statement, du CEO Osman Sultan claimed that after heavy investment in marketing and advertising campaigns, du was able to boast a subscriber base of 250,000 mobile subscribers at the end of March.

Du also reported that sales of its combined internet, television and fixed-line services to commercial and individual customers in Dubai generated the bulk of its revenue.

"We're talking about only five weeks of effective launch of mobile services in the quarter. Most of the revenue was driven by triple-play packages," Sultan said.

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