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Tuesday, 25 April 2017

UAE telco Du Q1 net profit falls 24 pct | Reuters

UAE telco Du Q1 net profit falls 24 pct | Reuters:

"Du, the United Arab Emirates' No.2 telecom operator, reported a 24 percent fall in first-quarter net profit on Tuesday, missing analysts' expectations. The company has been squeezed since late 2014 as growth of the mobile market has been offset by a steady increase in the royalty - or tax - paid to the government. Du, which ended rival Etisalat's domestic monopoly in 2007, made a net profit of 364.9 million dirhams ($99.35 million) in the three months to March 31, down from 480.1 million dirhams in the year-earlier period."



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