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Wednesday, 27 July 2016

Etisalat net profit beats expectations | GulfNews.com

Etisalat net profit beats expectations | GulfNews.com:

"Etisalat, beating analysts expectations, registered a 14.7 per cent rise in net profit for the first half to June helped by forex gains, lower financing cost and federal royalty.

The telecom major’s net profit for the six months to June jumped to Dh4.98 billion from Dh4.35 billion in the same period last year, it said in a statement on Wednesday. Revenues for the same period rose a tad to be at Dh26.178 billion as against Dh25.85 billion in the first half of last year.

“These are better than expected numbers. The forex gains, lower financing and royalty helped the bottom line even though top line was stable,” Tariq Qaqish, head of asset management at Al Mal Capital told Gulf News. “The company was able to eke out good numbers despite challenging conditions outside.”"



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