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Thu 24 Jul 2008 08:58 AM

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Telecom firm Du posts $12mn losses

Company reports revenues of $247mn for second quarter, up 200% on same period 2007.

Dubai-based telecom firm Du on Thursday posted a loss of nearly $12 million in the second quarter, below an analyst forecast.

Investment bank EFG-Hermes predicted a loss of 46.04 million dirhams in a survey by newswire Reuters last month.

The company reported revenues of $247 million for the period ending 30 June 2008, a 200 percent increase from the same period in 2007, it said.

Du made a loss of $16 million in the first quarter of this year.

Its revenues were $82 million in the second quarter of last year and $205 million in the first quarter of this year. (Reuters)

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Kaptain 12 years ago

Hoping that du shouldn't start laying off over such news. Every business needs 4 years to stabilise. Du should concentrate on Telecom models running in parallel in Asia countries where the consumer basket is consistent but with astounding facilities. Cost cutting is far-fetched in today's inflationary model economy..thus more facilities for less would ensure the money till doesn't stop ringing even once in a while.

Mike 12 years ago

Du should focus on customer service. They display how not to treat the customer on a daily basis, worst I have ever seen.

rahul 12 years ago

Compared to the last Q2 DU actually had an increased revenue of around 200%. The loss is only based on some analysts expectations. DU an emerging Telecom giant.

Hussain M 12 years ago

i think people just got sick of du...specially after banning Skype.

Sheetal 12 years ago

I think its too early to comment on Du. Its just been 2 years! or maybe Etisalat is finding an easy way to win competition by putting them down. Give it some time guys!

muhammad 12 years ago

Etisalat are miles and miles away and Du cannot stand in front of Etisalat.

Shahzad Nadeem 12 years ago

DU can and expected to stand tall in front of Etisalat, it's the matter of time ,customers satisfaction and market acceptability.