Etisalat announces financial results for consolidated nine months of 2006

Emirates Telecommunications Corporation – Etisalat – held its board meeting today, which was attended by HH Mohammed Hassan Omran, Chairman, and other Board members. The board discussed the group's financial results for the consolidated nine months of 2006, which ended on September 30th.

Etisalat revenues for the consolidated nine months increased to AED 11.815 billion, a rise of 26% compared to same period last year. Operating profits increased to AED 4.150 billion, a rise of 36 per cent over the corresponding period of 2005, and net profits for the nine months have grown to  AED 4.386 billion, an increase of 36% compared to the same period of 2005.

Mohammed Hassan Omran, Etisalat Chairman said, "The performance of the Corporation in the first nine months of 2006 brings us even closer to our ambition of being among the top 10 telecom operators in the world by 2010.”

“We are committed to being the first and foremost choice for our customers in the UAE and overseas markets in which we operate. This can be achieved by equipping customers with most innovative and out of the box services and solutions that enhance their reach experience in a more efficient and convenient way”, he added.

Omran also praised the efforts of Etisalat’s employees, confirming that the high growth rate in revenues, profits, and subscribers translate Etisalat Board vision of providing latest services and technologies to customers, while participating in the development of the UAE and other markets of operations.
Mobile services witnessed a 22 per cent growth in the first nine moths of 2006, compared to the same period last year. Mobile subscribers now number 5.26 million, as on September 30th.

Internet subscribers, including broad band connections, reached 630,000, a record growth of 34 per cent over 2005. Fixed lines subscribers number 1.28 million, up by 4 per cent compared to the same period last year.