DUBAI Feb 14 Du, the United Arab
Emirates' second biggest telecommunications operator, reported a
20 percent fall in fourth-quarter net profit on Tuesday,
according to Reuters calculations.
The firm had reported declining profits in the preceding
eight quarters, according to Reuters data, with chief executive
Osman Sultan saying in July last year that the firm needed to
regain momentum in the prepaid mobile market if it was to
counteract the impact of higher government taxes.
Du, which ended rival Etisalat's domestic monopoly
in 2007, made a net profit of 369.8 million dirhams ($100.8
million) in the three months to Dec. 31, down from 462.4 million
dirhams in the year-earlier period, Reuters calculated from
financial statements in the absence of a quarterly breakdown.
SICO Bahrain had forecast du would make a quarterly net
profit of 447.5 million dirhams, while EFG Hermes had forecast
463.9 million dirhams.
For the full year of 2016, du said net profit was 1.75
billion dirhams, down from 1.94 billion dirhams in the previous
(Reporting by Tom Arnold; Editing by Andrew Torchia)