Monday 30 July 2012

UPDATE 1-UAE telco du Q2 profit rises 57 pct | Reuters

Du, the United Arab Emirates' second biggest telecommunications operator, reported a 57 percent rise in second-quarter profit on Monday, which was at the low end of analysts' estimates as subscriber growth for fixed-line services lagged that for mobile.

The firm, which ended rival Etisalat's domestic monopoly in 2007, made a net profit of 325.5 million dirhams ($88.6 million) in the three months to June 30, up from 207.2 million dirhams in the year-earlier period.

Analysts polled by Reuters had on average forecast du would make a quarterly profit of 332 million dirhams.

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