du reports 26% higher profits in Q2-22; dividends proposed

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Dubai - The net profits of Emirates Integrated Telecommunications Company (du) increased by 26.20% year-on-year (YoY) to AED 240 million during the second quarter (Q2) of 2022 from AED 303 million.

The company generated revenues of AED 2.85 billion in Q2-22, up 9.90% from AED 3.13 billion in the year-ago period, according to a press release on Thursday.

The earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped by 12.10% YoY to AED 1.13 billion in the April-June period of 2022 from AED 1.26 billion.

Meanwhile, the company's board approved an interim cash dividend of AED 0.11 per share, up 10% from the previous year’s interim dividend.

Commenting on the company's performance, the Chairman of du, Malek Al Malek, said: "We are maintaining a dynamic and proactive commercial approach: we will continue launching new products and services for the benefit of our customers. Our transformation projects, a key enabler of these commercial initiatives, are progressing according to plan."

Meanwhile, the CEO of du, Fahad Al Hassawi, commented: "We had a fourth consecutive quarter of net-additions on the high-value postpaid segment. Our customer acquisition on the consumer broadband services remains robust."

It is noteworthy to mention that during the first quarter (Q1) of 2022, du's net profits hiked by 21% to AED 311.18 million, compared to AED 257.14 million in the year-ago period.