(MENAFN- Khaleej Times) Emirates Integrated Telecommunications Company, or du, said on Thursday its second quarter revenues jumped 12.05 per cent year on year to Dh2.66 billion, up from Dh2.37 billion in the same 2012 period and proposed a special dividend of Dh0.10 per share.
The second telecom operator said in a statement that its mobile revenue increased 13.33 per cent year on year to Dh2.07 billion, up from Dh1.82 billion while mobile data revenue increased 44.81 per cent to Dh573 million.
Du said its second quarter revenues jumped 12.05 per cent year on year to Dh2.66 billion, up from Dh2.37 billion in the same 2012 period. - Supplied photo
Osman Sultan, du's chief executive officer, said the company would be returning Dh1.0 billion to shareholders this quarter by way of a special dividend and the start of du's interim dividend programme.
"Our balance sheet and cash generation remains strong, and we are committed to generating attractive and sustainable returns to our shareholders by balancing the long-term investment needs of our business and shareholder expectations."
"Thanks to further progress made during the first half of this year in our key areas of strategic focus - market leading products and services and driving cost efficiencies through our business €" we have achieved good growth in revenues and profits and our margins remain strong," said Sultan.
He said the telecom operator had developed new innovative propositions for customers which would be launched over the coming months against the backdrop of rapidly evolving consumer requirements and technology advances in the telecommunications industry.
"I remain excited about our longer term prospects as customer appetite for high speed data continues to increase. By focusing on efficiency and fostering innovation, I am proud to retain our position as the operator of choice."
The company said its wholesale revenues increased 33.05 per cent to Dh133 million from Dh100 million in second quarter 2012. EBITDA increased by 16.19 per cent year on year to reach Dh1.09 billion, up from Dh941 million in 2012 second quarter, with an EBITDA margin of 41.11 per cent in the second quarter 2013.
Du's total mobile customer base reached 6,653,905 active mobile customers; a 16.07 per cent increase compared to the same 2012 period while post-paid mobile customers now represent 8.9 per cent of the mobile customer base, up from 7.8 per cent. Prepaid mobile customers increased 14.78 per cent to 6,064,043 as fixed line subscribers increased 5.74 per cent to 578,026.
The company statement said it remained focused on innovation and improving service experience to retain high value customers across all segments. Du said in line with strategic objectives, it is continuing to maintain cost controls and is focusing on optimising efficiencies. This is demonstrated by the total overheads for the quarter, which remain stable at Dh700 million. As a percentage of revenue, overheads are 26.31 per cent, representing a decrease of 4.57 per cent over the same period a year ago and a quarterly decrease of 0.27 per cent. Decrease in overheads is also in part attributed to the collection of bad debts during second quarter 2013.
"Du's capital expenditure programme remains stable and in line with that of a developed company with Dh323million being invested during Q2 2013.Strategic capex spend and infrastructure investments are in line with evolving consumer requirements and technological advances," the statement said.
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