The financial statements of Emirates Integrated Telecommunications Company (Du) showed that the company's profits in the past year decreased by 17% on an annual basis.
According to the company's results for the Dubai Financial Market, today, Tuesday, last year's profits amounted to 1.44 billion dirhams, compared to 2019 profits of 1.73 billion dirhams.
The company's revenues last year decreased by 12% year-on-year, and financing income decreased by 59% to reach 50.6 million dirhams, compared to 124.1 million dirhams in 2019. .
The expected net credit losses on contract assets and receivables increased by 8%, reaching last year to 227.4 million dirhams, compared to 210.6 million dirhams in 2019.
The company’s board of directors recommended distributing 15% cash dividends to shareholders at a rate of 15 fils per share for the second half of 2020.
and in the event that the General Assembly approves the proposal of the Board of Directors, the profits assessed on the shareholders will be of 679.94 million dirhams for the second half, bringing the total profits distributed for the whole year 2020 to about 1.27 billion A dirham equivalent to 28 fils per share.
