Unexpected crush of bottom line
Etisalat recorded a strong top line performance with a 17.5% increase in revenues to AED26.2bn. This growth is attributable to the strong performance of the UAE operations and the consolidation of an additional month (April-June in 2015 vs. May-June in 2014) of Maroc Telecom Group. In the UAE, H1 2015 revenues grew by 8.8%, yoy, to AED15.2bn, as a result of a strong performance in the mobile and fixed broadband, ICT segment and smartphone sales with the strong demand for IPhone 6 & Samsung S6 devices.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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