Etisalat’s 2019 net profit flat as revenue falls – The National

Etisalat’s 2019 net profit flat as revenue falls – The National

Etisalat's 2019 net profit flat as revenue falls. The UAE's biggest telco posted a net profit of Dh8.69bn last year. Revenue during the period decreased 0.38 per cent to Dh52.19bn.. The company's earnings per share grew slightly to Dh1 in 2019 from Dh0.99 a year earlier.. The company did not disclose its fourth quarter results.. The dip in earnings is "mainly attributable to the decrease in revenues of the international operations due to currency fluctuations and decrease in the mobile revenues of UAE operations," the telco said.. The telco also owns a 28 per cent stake in Saudi telecoms company Etihad Etisalat (Mobily).. On Tuesday, EITC reported a 1.3 per cent decline in the full-year net profit to Dh1.73bn in 2019.. The company's revenue fell 6.2 per cent to reach Dh12.58bn during the period..