Etisalat Group reports 2018 net profit of $2.3 bln

UAE-based Etisalat Group on Tuesday said consolidated net profit after Federal Royalty for 2018 rose 2.4 percent year-on-year (YoY) to AED 8.6 billion ($2.34 billion).

Consolidated revenue for the full year reached AED 52.4 billion, registering a YoY increase of one percent, the telco said in a statement.

“In 2018 we pursued an ambitious agenda in the digital space to maintain our leadership position across our operations.  Our focus remains on providing governments, businesses and individuals with innovative, simple, and relevant solutions that harness the power of technology and maximizes their potential," said Saleh Abdullah Al Abdooli, group CEO, Etisalat.

In the UAE, the subscriber base reached to 12.6 million subscribers, while Etisalat Group aggregate subscribers touched 141 million subscribers, up one percent YoY.