Dubai – Mubasher: Emirates Integrated Telecommunications (DU) reported a slide in its net profits for the second quarter of 2016 (Q2), according to a bourse filing.
DU’s Q2 profits fell by 11.3% year-over-year to AED 445.4 billion ($121.23 million) from AED 502 billion ($136.64 million).
A quarter earlier, the company registered AED 480.1 profits, lower 1.4% year-over-year.
In the first six months, net profits stood at AED 925.53 billion, down 6.4% from AED 989.11 billion for the year-ago period.
Further, operating profits rose by 3.7% during the first half after the company registered an operating income of AED 1.98 billion compared with AED 1.91 billion for the first half of 2015.
Moreover, the bourse filing revealed that the board of directors approved paying out cash dividends for the first half at 13 fils per share, totaling AED 594.3 million.
The shareholders’ meeting that is to be held on September 2016 will likely give the green light to the proposed H1 cash dividend distribution.
