Du records US$43 million net profit in Q3

UAE based Du reported a 51 per cent rise in its subscriber base over the past year to 3.14 million customers endQ3 09.

Revenues for the quarter amounted to AED1.33 billion (US$362 million) consistent with the previous quarter and up 25.8 per cent year-on-year. EBITDA came in at AED297.3 million, representing an increase of 22.8 per cent quarter-on-quarter, and 192.9 per cent year-on-year.

Net profit (before royalty) was AED157.1 million for the quarter, up 398 per cent on the same period last year and up 36 per cent quarter-on-quarter.

During the third quarter Du’s pre and post paid mobile subscriber numbers saw continued growth with the addition of 25,900 postpaid mobile subscribers, representing a 55 per cent increase in subscriber additions over the second quarter as a result of a continued marketing strategy to increase market share. Post-paid customers represent 3.6 per cent of Du’s mobile business. Prepaid mobile subscribers witnessed the addition of 207,300 subscribers over the quarter.

Du’s capital expenditure programme is set to exceed AED 2 billion in 2009, with AED 424 million accounted for during Q309 bringing year to date expenditure to AED 1.47 billion.