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Tue 8 Jun 2010 04:51 PM

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du says outlook is 'bright' as it plans Internet unit

Growth this year 'will be on the high end of the average of telecom operators' - CEO.

du says outlook is 'bright' as it plans Internet unit
du PLANS: Plans for Internet telephone service will be concluded by the end of this year, Sultan said. (ITP Images)

Emirates Integrated Telecommunications Co, also known as du, sees a “bright” outlook for 2010 as it plans to set up an Internet unit by September, Chief Executive Officer Osman Sultan said on Tuesday. Growth this year “will be on the high end of the average of telecom operators,” the CEO said in Amman. The operator’s growth will continue in the next three years, he added. du, the smaller of two phone companies in the UAE, plans a unit for Internet and mobile content as part of a 2.2 billion-dirham ($600 million) investment, Sultan said.

The rival of Etisalat in the UAE’s fixed-line, mobile and Internet markets is improving its infrastructure to lure clients who spend more on services such as music downloads and high-speed Web access. du’s first-quarter net income more than quadrupled to 97.1 million dirhams as it gained subscribers and introduced products.

Plans for Internet telephone service will be concluded by the end of this year, Sultan said. The company’s 1 billion- dirham share sale will be completed in coming days, he added.

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BV 10 years ago

Would someone care to explain what DU means with "setting up an internet unit"? It is very loudly announced in the headline, but then there is no substantiation or explanation in the actual article of what this 'unit' will actually do, or what it will be responsible for? Also, why are we still paying such ridiculously high rates to DU when they are boasting of a 97.1m dhs NET profit?