#Dubai telecoms giant posts 9% rise in 2019 profit to $470m - Arabianbusiness

Dubai telecoms giant posts 9% rise in 2019 profit to $470m - Arabianbusiness:

Emirates Integrated Telecommunications Company, parent of telco Du, on Tuesday reported a 9.3 percent in its annual net profit for 2019 to AED1.73 billion ($470 million).

The telecoms operator also announced an acceleration in the deployment of its investment plan, particularly in connection with 5G roll-out and fibre network expansion with annual capital expenditures reaching AED1.5 billion.

The board recommended a dividend distribution of 34 fils per share out of which 13 fils per share have been already paid in August as an interim

dividend.                                                                                   

EITC also reported annual revenues of AED12.59 billion, showing an erosion of 6.2 percent as growth of fixed and ICT revenues absorbed partially the pressure on mobile prepaid revenues adversely impacted by pricing, competition and the negative impact on the base of the SIM registration disconnections.