'du' publishes Q1 2014 results with revenues of 2.96bn Emirate dirham

Emirates Integrated Telecommunications Company PJSC ("du") today announced its first quarter results of 2014, with revenues of AED 2.96 billion. The results demonstrate continued solid performance on all main indicators as the company continues to deliver world class customer service, shareholder value and contribute to the growth of the UAE's economy. The revenues for Q1 2014 reached AED 2.96 billion, an 12.5% increase on Q1 2013, which was AED 2.63 billion. The earnings before interest, taxes, depreciation, and amortization (EBITDA) grew to AED 1.18 billion up 12.3% compared to Q1 2013 (AED 1.05 billion), and Net profit before royalty was AED 865 million in Q1 2014, which is up 15.1% compared to Q1 2013. Net profit after royalty grew to AED 490 million in Q1 2014, a 4.8% increase on Q1 2013, according to the results. During the first quarter 306,308 net active mobile customers were added, bringing the total mobile customer base to 7.55 million Osman Sultan, du's Chief Executive Officer, commented: "This quarter we achieved positive revenue growth and healthy levels of profitability driven by our strategic focus on enhancing the customer experience. We have begun 2014 on a strong footing with double digit growth in revenues and EBITDA by developing innovative propositions for customers and delivering on our commitment to focusing on operational efficiencies. "In 2014 we will continue to work towards Vision 2021 so that we actively engage with plans to implement a Smart Government across the UAE and transform Dubai into a Smart City. We look forward to playing our part in delivering truly smart capabilities that improve and simplify our customers lives and create a happy community." WAM/AAMIR