Business


Etisalat revenues rise 27 per cent



Muscat: Etisalat reported strong consolidated revenue of DH12.6 billion in the second quarter of 2014 of after the acquisition of Maroc Telecom earlier in May.

Subscribers both in domestic and international markets also increased in the same quarter, whereas the net profit after federal royalty stood at DH4.5 billion, an increase of 19 per cent year-on-year.

Consolidated revenues during the second quarter of 2014, amounted to Dh12.6 billion, representing a 27 per cent increase from the same period last year.

The aggregate subscriber base grew by 27 per cent year-on-year to reach 182 million subscribers by end of June 2014, benefiting from the consolidation of Maroc Telecom. The board of directors has approved an interim dividend of 35 fils per share, subject to final approval at annual general assembly.

Etisalat completed buying the 53 per cent of Vivendi's share in Maroc Telecom for €4.138 billion, which was marked as the largest ever merger and acquisitions deal in Morocco, and largest Middle East and North African (Mena) region cross border deal and largest ever telecom transaction in North Africa.

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