DUBAI Feb 14 Higher revenues in its domestic
market enabled United Arab Emirates-based telecommunications
operator Etisalat to report a slightly higher profit
Etisalat said UAE revenues rose by 5.5 percent due to strong
data services and use of broadband solutions, while its Moroccan
affiliate Maroc Telecom also performed well as overall group
revenues rose 2 percent to 52.36 billion dirhams.
Net profit attributable to equity holders climbed 1.9
percent to 8.42 billion dirhams ($2.29 billion) in 2016,
Etisalat said, adding that 2015 earnings had been restated.
The company did not give details of the changes.
Fourth-quarter net profit was 2.24 billion dirhams,
according to Reuters calculations as the company did not break
out quarterly numbers. Profit in the fourth quarter of 2015 was
2.60 billion dirhams, according to Etisalat's website.
Analysts at SICO Bahrain had forecast a fourth-quarter 2016
profit of 2.24 billion dirhams and EFG Hermes, 2.09 billion
(Reporting by Andrew Torchia; Editing by Alexander Smith)