VOL. XLIII

No. 16

17-April-2000

TELECOMS

Etisalat Records 2% Drop In Profits For 1999 But 21% Revenue Growth

The UAEs national telecoms provider Etisalat announced on 10 April that while its revenues for the year 1999 had grown by 21% to Dh6.19bn ($1.685bn), its profits had fallen by 2% to Dh1.97bn ($536mn) compared to Dh2.011bn ($547mn) the previous year. The companys assets, however, rose to Dh7.10bn ($1.93bn) from Dh5.41bn ($1.47bn).

According to the companys chairman, UAE Minister of...