Dubai: Emirates Integrated Telecommunications Company PJSC (du) on Thursday published its financial results for 2016 and proposed a final dividend of Dh0.21, bringing the annual dividend payment to Dh0.34 per share. This includes a Dh0.13 per share interim dividend paid in October 2016.
The telecom operator reported a 9.7 per cent decrease in profits for 2016 after royalty to Dh1.75 billion compared to Dh1.94 billion in 2015.
“During 2016, we continued to focus on operational efficiency and enhancing the overall customer experience. By embracing new technology and integrating innovation across our entire business we were able to maximize value for both our customers and shareholders,” Ahmad Bin Byat, Chairman of EITC, said in a statement.
Osman Sultan, EITC’s Chief Executive Officer, said: “Our underlying financial and operational performance in 2016 was solid. We added almost a million new mobile customers during the year, while our focus on cost efficiency maintained our EBITDA levels whilst we invested in our transformation to an integrated digital provider”.
While most of our key indicators showed improvement in 2016, he said a near 10 per cent rise in the amount of royalty paid to the government meant net profit was lower compared with the previous year.
“Moving forward, we plan to continue our close cooperation with our strategic partners to develop a full range of smart services and cloud solutions, providing only the best possible assistance to du customers, but also helping drive the UAE’s innovation agenda as well as Dubai’s transformation into the smartest city in the world,” he said.
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