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Du shares end flat as telco firm reports 50% increase in Q3 net profits

Profit bookings dragged the DFM General Index down by half a per cent to 1,408.06 points, although market bellwether Emaar Properties gained 1.09% to reach Dhs2.78. The UAE's second telco provider Du closed even at Dhs2.95 despite reporting a year-on-year profit jump by 50% to Dhs498m before royalty (provisioning for royalty maintained at 50% of net profit). "Osman Sultan, du's Chief Executive Officer, said, "I am very pleased to say that the third quarter has been business as usual as far as du's performance is concerned. We have maintained our positive trajectory, achieving strong, profitable growth. We continue to attract new customers and we are seeing our existing customers further increase their use of data." Som 98m shares were traded, valued at Dhs120.75m.