Etisalat reports Dh2.2b first quarter internet profit
Abu Dhabi: Etisalat Group on Wednesday reported a net profit of Dh2.2 billion for that first three a few occasions of 2020 (Q1) within their latest financial results, representing a few percent decrease every year.
Their financial results also reported consolidated revenues of Dh13.1 billion, single percent increase in comparison to this past year. The group’s revenue within the UAE was lower three percent to Dh7.6 billion, when using the organization attributing the autumn to elevated competition and slower economic activities introduced track of the COVID-19 pandemic. Most of the profit comes from the Etisalat Home Internet connection as because of lockdown internet usage has increased.
Since the group’s revenue within the UAE was lower, Etisalat’s worldwide revenues did go to a rise of 4 percent to Dh5.2 billion, when using the organization attributing an upswing for your strong performances of Etisalat Misr along with consolidation of Tigo Chad into Maroc Group Financials.
Much like companies, Etisalat has observed its operations influenced by COVID-19, even though internet profits were lower every year consequently, its internet profit actually was up 11 percent in comparison to last quarter along with last three a few days ending in 2019, highlighting the group’s capability to operate together with your occasions, especially during March when many of the stay at home measures were passed.
Etisalat also announced it’s board of company company company company company company company directors approved an interim dividend payout of 25 fils per share, while using the group’s shareholders approving a whole year cash dividend of 80 fils per share for that fiscal year 2019.
“As we traverse these challenging occasions, Etisalat has proven resilience and continuing to get devoted for the communities it serves, making certain business continuity and readiness, minimising effect on our operations and uninterrupted services for that customers,” stated Obaid Humaid Al Tayer, chairman of Etisalat Group.
“Etisalat’s performance within the first quarter reflects our agility when controling unparalleled market challenges and pressures facing the telecom sector globally. We’re also grateful for your vision inside our wise leadership within the UAE in positioning the nation most likely probably most likely probably most likely probably the most digitally advanced globally,” he added.
“Moving ahead, we remain positive concerning the future because there are immense options in the middle of the low sides and pressures faced when using the telecom sector globally. With digital enablement and innovation making an effect on every sector, the earth is relocating full pressure towards achieving digital transformation.”
Al Tayer stated Etisalat also ongoing to obtain on the right track to delivering 5G, when using the organization placing the unveil of 5G on top in the priority list.