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Sun 14 Feb 2016 03:42 PM

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UAE telco du Q4 net profit falls 10%

Du's annual profit for 2015 was $528m, down from $574m in 2014

UAE telco du Q4 net profit falls 10%

Du, the UAE's No . 2 telecom operator, reported on Sunday a 10.1 percent fall in fourth-quarter net profit.

The firm, which ended rival Etisalat's domestic monopoly in 2007, had reported declining profits in the preceding four quarters according to Reuters data.

Du made a net profit of 461.0 million dirhams ($125.5 million) in the three months to Dec. 31, down from 512.7 million dirhams in the year-earlier period, according to Reuters' calculations based on previous financial statements.

Beltone Financial forecast du would make a quarterly profit of 584.5 million dirhams.

Du's annual profit for 2015 was 1.94 billion dirhams ($528m), down from 2.11 billion dirhams ($574m) in 2014, according to a bourse statement.

The firm's 2015 annual revenue was 12.34 billion dirhams. This compares with 12.24 billion dirhams a year ago.

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