Etisalat continues to bask in positive effect from Maroc Telecom

first_imgHome Etisalat continues to bask in positive effect from Maroc Telecom Etisalat interim chief made permanent Rakuten adds Etisalat to RCP open RAN list EtisalatMaroc TelecomMobily Related UAE-based operator group Etisalat reported a near 50 per cent increase in net profit in Q4, thanks in part to the contribution of Maroc Telecom.In the three months to end December, the group said its net profit grew by 47 per cent to AED2.14 billion ($583 million).Etisalat is present in 19 countries across the Middle East, Africa and Asia but one country made a particular contribution, and that was Morocco’s Maroc Telecom.This is the second quarter in a row where Etisalat has been buoyed by the same operator. It acquired a 53 per cent in Maroc Telecom in May last year.In addition, the group’s net profit benefited from lower tax and impairment charges, although this was partially offset by higher depreciation and amortisation expenses, lower share of associates’ results, higher finance costs and foreign exchange losses.Fourth-quarter revenue climbed 33 percent to AED13 billion, of which AED7 billion was generated domestically.The company’s total subscriber hit 169 million, representing an impressive growth of 21 million during the last 12 months. Again a nod was due to Maroc Telecom, although UAE and Nigeria also contributed.Back in November, affiliate Mobily suspended CEO Khalid Omar Al Kaf after errors were found in the company’s accounting, leading it to restate figures for 2013 and the first nine months of 2014. And, earlier this week, Mobily reported a full-year loss for 2014. Etisalat said the impact from its affiliate was “immaterial” to its overall earnings. Author Tags AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 26 FEB 2015 Previous ArticleThai govt says 4G auctions won’t be delayedNext ArticleVodafone India to fight regulator’s wholesale charges in Supreme Court Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including… Read more Richard Handford Etisalat to bring open RAN to Afghanistanlast_img

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