Du’s first half profit hit by stay-at-home measures – The National

Du’s first half profit hit by stay-at-home measures – The National

Company reports lower sales and profit due to movement restrictions during Covid-19 outbreak





























EITC's revenue fell 4.8 per cent year-on-year to Dh2.99bn in the first quarter. Charles Crowell / The National











Telecoms operator du reported a 38 per cent fall in net profit for the first half of the year as it said revenues were hit by "movement restrictions, low business activities and [a] shift in customer behaviour" due to Covid-19.



The company declared a net profit of Dh570m for the six-month period, compared to Dh913.3m in the same period a year ago.



Revenue was Dh5.66bn, 11 per cent lower year-on-year. Mobile revenues, particularly in the second quarter, were lower as companies implemented work-from-home initiatives and people relied more on fixed line connections.





"Despite a challenging environment that adversely impacted our results for the quarter we continued our transformation programme, particularly on the digital front, and we remain committed to continue investing in our business to sustain long-term value creation," said Mohamed Al Hussaini, chairman of du's holding company Emirates Integrated Telecommunications.



The company increased its capital expenditure by 75.3 per cent in the