Du reports solid Q2 results

UAE telco Du today announced its financial results for the second quarter of 2010.

Highlights for the period included:

• 182,100 net active mobile subscribers added during the quarter, taking the total at quarter end to 3.92 million
• Revenues of AED1.7 billion (US$463 million) achieved, a 30 per cent increase compared to Q209 and an eight per cent increase compared to Q110
• Gross margin grew by 31 per cent year-on-year to AED 1.13 billion and eight per cent quarter-on-quarter
• EBITDA grew 87 per cent compared to Q209 to AED454 million, up 24 per cent quarter-on-quarter. EBITDA margins also improved to 27 per cent in Q210, up from 23 per cent in Q110 and 19 per cent in Q209
• Net profit before royalty more than doubled year-on-year to AED275 million compared to AED115 million in Q209, representing a 42 per cent increase over the previous quarter
• Sustained momentum in post paid active mobile subscriber additions with 29,700 added during the quarter, up 10 per cent quarter-on-quarter, bringing the total to 194,000 or five per cent of the total mobile subscriber base
• 52 per cent growth in Du’s fixed line subscriber base from 328,600 lines in Q209 to 499,900 lines in Q210, with 43,200 lines added during the quarter