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Etisalat posts 17% profit for Q2

Etisalat has posted a 17% increase in quarterly profits to Dhs1.9bn ($517.3m) in the three months to June 30, compared with Dhs1.59bn last year, Reuters has reported. The Abu Dhabi-based operator, which operates in 17 countries, saw higher revenue from its international operations partly offset slipping local business. Quarterly revenue rose 4% to Dhs8.3bn from Dhs7.93bn a year ago, Etisalat said. The company also said it would shift its focus to high growth, populous markets in the Arab world, Africa, Asia to drive revenues. "Following the industry trend to invest in overseas markets over the past decade, we are now focusing on creating value in high population, high growth markets such as Saudi Arabia, Egypt, Nigeria, Pakistan and Afghanistan," said Etisalat chairman, Eissa al-Suwaidi.