du revenue growths by 13.7% in 2Q 2014 [CommsMEA (United Arab Emirates)]
(CommsMEA (United Arab Emirates) Via Acquire Media NewsEdge) du has announced its financial results for the second quarter of 2014 with AED 3.02 billion ($81.73m) revenues. The company reported that it is the first time revenue has lifted over AED 3 billion for a quarter.
Revenues increased by 13.7% against Q2 2013 (AED 2.66 billion). This increase was driven by consistent data revenues and a continued focus on the post-paid segment.
Mobile revenue reached AED 2.26 billion, a 9.5% increase year-on-year (AED 2.07 billion). Fixed revenue increased by 30% to 541 million compared to 416 in Q2 2013. Data now represents 29.3% of mobile service revenues, up from 27.1% in Q2 2013, said the company.
In line with du's progressive dividend policy, the company announced that it will issue shareholders with an interim dividend of 12 fils per share as a reward for their continued support.
The UAE TRA's 'My Number, My Identity' campaign requiring all mobile users to register their mobile number to protect customer privacy and to avoid fraud, resulted in a natural churn of 468,000 customers in the pre-paid segment as unregistered mobiles were withdrawn from the market place. Further attrition is possible in the coming quarters.
Osman Sultan, CEO at du, commented: "I am pleased to report another quarter of solid growth, with double digit growth across many of our key indicators and an increase in the number of higher-value post-paid customers we serve. These results show that by continuously developing innovative propositions to meet our customers' requirements and rigorously implementing our efficiency strategy, we are able to deliver steady growth despite a highly competitive environment."
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