Du revenue up 6.2% as it prepares for Virgin Mobile launch
CEO Osman Sultan reports ‘challenging market conditions’ but plans full commercial launch of Virgin Mobile in UAE
Dubai’s Du has reported rising profits for the second quarter of the year after a period of decline.
The company, officially Emirates Integrated Telecommunications Company (EITC), said its revenue was 3.07 billion Emirati dirhams ($836 million) with profit of 974 million dirhams ($265 million).
“EITC has made steady progress in the second quarter of 2017, with a 6.2% increase in revenue and a slight improvement in net profit,” said CEO Osman Sultan.
He said the mobile customer base had increased 1.5% during the quarter to 8.2 million customers, up from 8.1 million in the second quarter of 2016. “This was largely due to our strategy of focusing increasingly on attracting and retaining higher quality customers, with solid growth in postpaid customer additions,” said Sultan.
But he warned: “Despite a steady performance during the quarter and the first half of the year, EITC continues to be impacted by challenging market conditions, with pressure on mobile rates and data monetisation.”
“We enrolled a few select number of UAE residents to test the product and its customer service, and are happy with the feedback received. We look forward to the full commercial launch of the Virgin Mobile brand in the UAE soon, and with it, bringing a fully digital and premium customer experience.”