Etisalat Group reports $2.37bln net profit – ZAWYA

Etisalat Group reports $2.37bln net profit – ZAWYA

UAE - Etisalat Group reported on Tuesday that its consolidated net profit for 2019 grew to Dh8.7 billion as the aggregate subscriber base surged six per cent to 149 million.. In a statement, the telecom leader said its consolidated revenues for 12 months reached Dh52.2 billion, while consolidated net profit after Federal Royalty rose one per cent compared to the same period in 2018.. The group proposed a dividend payout of 40 fils per share for the second half of 2019, representing a total dividend payout of 80 fils for the full year and a dividend payout ratio of 80 per cent.. Etisalat continued reinforcing its core business, explore new growth opportunities, while transitioning to the digital era and being well geared for the future," said Obaid Humaid Al Tayer, chairman, Etisalat Group.. Digital transformation is becoming present in more areas of life, and we have striven to be at the forefront leading it," said Al Tayer.. Etisalat today is recognised as the most valuable consumer and telecom brand in the MEA region for the third and fourth consecutive year respectively, an illustration of our long-standing efforts and testament to building a successful telecom brand in the region,"