Media ININ Economy We Trust
Media IN Abu Dhabi 23rd-07-2019
Emirates Telecommunication Group Company (Etisalat), listed on the Abu Dhabi Securities Exchange (ADX), reported a 1% year-on-year increase in consolidated net profit after Federal Royalty for the second quarter of 2019.
Net profit amounted to AED 2.23 billion in Q2-19, compared to AED 2.19 billion in the same quarter a year ago, Etisalat said in its Management Discussion and Analysis Report for the period ended June 30.
Earnings per share (EPS) stood at AED 0.26 in Q2-19, up 1% from in the year-ago period.
The company’s consolidated revenue fell by 2% in the three-month period ended 30 June 2019 to AED 12.9 billion from AED 13.09 billion in Q1-18.
Operating expenses totalled AED 7.8 billion in Q2-19, down 5% from in the same period last year.
Meanwhile, total debt reached AED 25.3 billion at the end of June 2019, growing by AED 1.8 billion from AED 23.5 billion as at 31 December 2018, the telecom group added.
Total assets amounted to AED 124.10 billion as at 30 June 2019, compared to AED 125.24 billion as at 31 December 2018.
In the same vein, the group’s aggregate subscribers reached 143 million at the end of June 2019 due to a growth in subscribers number in Morocco, Pakistan, Saudi Arabia, Mauritania, Burkina Faso, ivory Coast, and Niger.
In the UAE, the subscribers’ base declined by 3% year-on-year in Q2-19, reaching 12.4 million subscribers, the ADX-listed firm noted.
Moreover, the company revealed that its board of directors has proposed interim dividends payout of AED 0.40 per share for the first half of 2019.
The interim consolidated profits of attributable to the owners of the company amounted to AED 4.44 billion in H1-19, versus AED 4.31 billion in H1-18, Etisalat said in a separate statement.
Etisalat previously reported it had generated consolidated revenues of AED 12.98 billion in Q1-19.
In Q1-19, the company’s EPS stood at AED 0.01, while profits attributable to the owners of the telecom company reached AED 2.21 billion.
