Du Hits Profitability Two Years After Start Date
‘Surpasses Corporate Action Plan Predicting Three-Year Timeframe,’ Says CEO
Du, the integrated telecommunications company, has entered profitability and achieved a net profit in the second year after startup, strengthening its ability to withstand current market swings.
“The most important thing is that we have entered the stage of profitability which is more significant than the net profit,” said Othman Sultan, Du CEO, in an interview with CNBC Arabiya.
“To have achieved this before the end of two years is a very good sign. We expect that this amount will be reduced gradually to get to the complete profitability stage, after we factor in the total loss and profits in all previous years,” he added.
Du’s initial company action plan forecasted that profitability would happen only after three years from startup, at the end of 2009.
"The more growth and more revenue we have, the more we work to reduce expenses and improve operational efficiency. We expect to see profits increase when revenues increase,” concluded Sultan.
As the region’s first and premier 24-hour live Arabic Business TV channel, CNBC Arabiya recently re-launched to include 12 new programmes. Along with a new programming schedule, the CNBC Arabiya re-launch reveals a brand new studio layout with more capacity for live links.
