DUBAI: Du, the UAE's second-largest telecommunications operator, said Thursday it posted a six percent increase in net profit last year, citing a rise in data service revenues.
Net profit after paying government royalty rose to 2.11 billion dirhams ($575 million/504 million euros) from 1.99 billion dirhams in 2013, the Dubai-based company said in a statement to the Dubai Financial Market.
Revenues grew 13.3 percent to 12.2 billion dirhams, while mobile data revenues increased by 18 percent year on year to 2.79 billion dirhams.
The operator said data now represents 29.7 percent of mobile service revenues.
"Data continued to drive the momentum in our business as customers' demand for connectivity remained strong," said du Chief Executive Officer Osman Sultan.
Du, incorporated as Emirates Integrated Telecommunications Co, ended the domestic monopoly of rival Etisalat in 2007.
It is 39.5 percent-owned by the UAE government, 20.1 percent by Abu Dhabi's Mubadala Development Co. and 19.5 percent by Emirates Communications and Technology Co. The balance is publicly traded.
UAE telecoms provider du's profit surges to $575m
