Du reports stellar Q4 and full-year 2010 results

Du has reported adding 250,000 net new customers during the fourth quarter of 2010, while its revenues surged 34 per cent to AED 2.1 billion (US$571 million) in the period compared to the previous year. Net profit after royalty amounted to AED 912 million, which included the effect of the recent UAE government announcement, concerning the 15 per cent royalty rate.

Du also reported a 38 per cent growth in its fixed line customer base from 405,900 lines in Q409 to 561,000 lines in Q410, with 45,500 lines added during the quarter.

Full year revenues for 2010 grew 32 per cent to AED 7.1 billion, largely as a result of the growth in Du’s mobile market share over the past twelve months, which has now reached around 40 per cent.

The company also finished the year free cash flow positive for the first time since its foundation.