Etisalat has announced a Group net profit after federal royalty of AED 5.13 billion for the nine month period ended 30 September 2011.
Etisalat Group recorded a 9% growth in third quarter stand-alone revenue, resulting in year-to-date Group revenues of AED 24.01 billion, an increase of 3% over the same period of the prior year. Revenue earned from international operations contributed 26 percent to overall revenue and increased 18 percent on the same period last year. Operating margins also remained resilient, with operating profit before federal royalty of AED 9.94 billion, representing a margin of 41%.
Mohammad Omran Chairman Etisalat said, "Our performance has improved due to our ongoing initiatives to add new revenue streams and optimise our costs. Etisalat has shown a positive operational performance trend in the local UAE market during the last quarter, while delivering continued revenue and earnings growth in our international operations. We are confident that we will see this trend continue as the year goes on. On behalf of all board members, we are also pleased to have appointed our new Group CEO, Ahmad Abdulkarim Julfar, who will be leading the Corporation towards realizing its strategic goals and synergies."
