Profit up on strong UAE performance
Etisalat recorded a decrease by 3% in its Q1 2017 revenues at AED12.458bn due to weakened international performance, offsetting the strong performance of its domestic operations (vs. a slight increase by 1.3% planned for the whole year). Note that Q1 2017 revenues were impacted by unfavourable FX movements mainly in Egypt and in constant currencies, revenues would increase by 3%, yoy. In the UAE, Q1 2017 revenues grew by 4.5%, yoy, to AED7.858bn, as a result of an increased subscriber base (+4%, yoy) with increased bundled propositions (voice and data), a strong performance of the eLife segment, driven by enriched content and higher speed, and increased offering of business solutions, digital and ICT services.
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