Emirates Telecommunications Corporation- etisalat- announced its financial results for the period ended 30th June 2006. With Net Profits of AED 2.813 billion after royalty payments, the Corporation has seen growth of 33 per cent over the corresponding period of 2005. The Board of Directors of etisalat also declared an interim dividend at the rate of 25 per cent on the par value of each share. Distribution of dividends will commence from 26th July 2006, and will be paid to all shareholders registered in the Shareholders Register at the close of day on 18th July 2006.
Mohammed Al Qamzi, CEO, etisalat, said: “At etisalat, we are extremely proud of the results that we have achieved, and it is testament to the success we have experienced both locally and internationally. We are happy to reward the trust placed in us by our shareholders with the declared dividends, and we look forward to forging deeper relationships with each of our stakeholders.”
“etisalat is committed to being the first and best choice for all our customers in our home market- the UAE. We strive to provide them with telecommunications services and solutions that help extend their reach, and also play pivotal roles in helping them reach their goals and aspirations. Our results for the first half of 2006 place us firmly on track to be among the top 20 telecom operators in the world”, he added.
etisalat mobile services, a high-growth area for the Corporation, has once again grown, and the Corporation now serves more than 4.995 million mobile customers in the UAE. This represents a penetration of over 100 per cent, and is among the highest in the world.
Fixed line subscribers have increased to exceed 1.266 million, and Internet subscribers now exceed 578,000.
These results come at a time when etisalat is implementing an ambitious strategy to enter lucrative markets in Asia, Africa and Europe. The most recent entry was into Egypt, where etisalat won the licence to operate the third GSM network. This licence win gives etisalat entry into one of the largest markets in the region.
