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Etisalat's Board Members praised the performance of the company in the first half of the year 2008. Etisalat recorded Net Profits of Dhs5,117m - an increase of 37% on 2007 figures (Dhs3,732m - 2007). Etisalat reduced its equity interest in Etihad Etisalat from 35% to 26.25% adding Dhs1,784m to the quarter's revenues which was recognized by the corporation in the second quarter of 2008.
Mohammed Hassan Omran, Etisalat Chairman, said:
"During the first half of 2008 Etisalat made great progress in achieving our goal of becoming one of the leading operators in the world - achieving both financial and operational objectives. Net profits recorded an increase of 37.1% on 2007 figures during the same period, and the number of mobile fixed line and internet subscription recorded a significant increase, highlighting that our home market and international strategy is progressing strongly."
Etisalat is one of world's the largest telecommunications companies, and the largest operator in the Arab World with headquarters in the UAE (according to FT 500, March 31, 2008).
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Posted by Anne-Birte Stensgaard, Senior News Editor
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