Abu Dhabi, UAE— e&, UAE’s leading telecom services group, has reported a consolidated net profit of $680.5 million for Q3, up 1.9% over the same period last year.
Its revenues surged to hit $3.54 billion. At constant exchange rates, revenue increased by 5.5%, it stated. .
Its subscribers in the UAE reached 13.3 million in Q3 2022, representing an increase of 11 percent over the same period last year, while aggregate group subscribers reached 162 million, a 4 percent increase.
e&’s solid performance underpins the ongoing progress of the Group’s ambitious plans since it entered a new chapter of its journey as a global technology and investment conglomerate earlier this year.
The establishment of focused business pillars as part of its transformation journey has contributed to its organizational agility, and allowed for strong strategic partnerships as the Group continues to explore the diversification of its local and international portfolios.
Hatem Dowidar, Group CEO of e&, said, “e&’s performance in Q3 2022 reflects our unwavering commitment to accomplishing more for the benefit of our customers, shareholders and the communities we serve. We are focusing our efforts on adopting flexible and agile business models that fuel our growth through innovation and creating new value propositions. Given that e& was built on strong foundations, we remain confident in leading change for growth by reinforcing our commitment to enhancing the quality of our innovative solutions to meet and surpass our customer expectations through the accelerated digitalisation seen in the business landscape.”
“We will continue our efforts to seize new growth opportunities and pursue strong partnerships that will ultimately maximise the potential of a holistic digital transformation for our customers, and the societies we serve.