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Du’s full-year profit stays flat

Dubai: Telecom operator Du on Tuesday reported a flat net profit of Dh1.99 billion for the full year compared to Dh1.98 billion last year.

The company paid increased year-on-year royalty fees of Dh183.5 million.

Provision for royalty was made at a rate of 7.5 per cent of the total licensed revenue, excluding broadcasting revenue and other allowable deductions, plus 20 per cent of the net profit for the year before distribution and after deducting 7.5 per cent of the total adjusted licensed revenue.

Revenues for the full year stood at Dh10.80 billion, an increase of 9.7 per cent compared to Dh9.84 billion in 2012.

“Our business has experienced another year of solid growth, in line with our expectations. Despite a strong competitive environment, we recorded near double digit growth by developing innovative propositions to meet the requirements of our rapidly evolving customer base, including a focus on providing high speed data,” Ahmad Bin Byat, Chairman of du, said in a statement.

Mobile revenue reached Dh8.37 billion, a 9.6 per cent increase year-on-year while mobile data revenues increased by 33.8 per cent, from Dh1.77 billion in 2012 to Dh2.36 billion, with data now representing 27.7 per cent of mobile service revenues, up from 22.6 per cent in 2012.

The company has proposed a final dividend payment of Dh0.19 bringing the total annual dividend payment to Dh0.31 per share in addition to the special dividend of Dh0.10 declared and paid during the year.