Etisalat's Reports Q111 Results

UAE-based Etisalat announced its group financial results for Q111 on April 18 2011. The results show an 8.9% drop in quarterly profit as revenue growth of 2.1% was insufficient to offset rising operating expenses, which rose at a faster rate of 11.3% compared to the same period a year earlier. Etisalat's Q111 performance highlights the increasing pressure on its revenue and profitability from its UAE operations. Having pulled out from two attempts at expanding its international operations, Etisalat will be keen on seeing its investment in higher value services begin to bear fruit.

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