Emirates Integrated Telecommunications (DU) 2008 Q2 financial report

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2008 Q2 result list | DU 2008 Q2 results - forum topic | Emirates Integrated Telecommunications - details & pdf financial statements

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AED USD EUR GBP AUD BHD EGP JOD KWD OMR QAR SAR   Precision: 1 2 3
DU (listed on DFM)   Auditor:   KPMG
DU accounts in UAE dirhams    
Date of results and share price AED 5.71 on 24 Jul 2008    
Current share price AED 2.78 on 15 Apr 2009    
Chairman Ahmad bin Byat
CEO Osman Sultan
Balance Sheet (AED) 31 Dec 2007 30 Jun 2008   %Δ   ? notes
Total Assets 4,348,072,000 5,481,494,000 26%
Total Liabilities (1,842,262,000) (3,081,180,000) 67%
Shareholders Equity 2,505,810,000 2,400,314,000 -4%
Income Statement (AED) 2007 Q2  2008 Q2       
Revenue (Sales) 302,252,000 907,831,000 200%
Cost of Revenues (COGS) (141,001,000) (340,095,000) 141%
Gross Profit 161,251,000 567,736,000 252%
Other Income 13,520,000 24,960,000 85%    
Other Expenses (455,607,000) (636,534,000) 40%    
Net Profit -280,836,000 -43,838,000 84%  
Minority Interests 0 0      
Net Profit due to shareholders -280,836,000 -43,838,000 84%
Earnings Per Share stated (annualized) -0.07 (-0.28) -0.01 (-0.04) 86%  
Ratio Calculations As on 24 Jul 2008      
Number of shares outstanding   4,000,000,000    
EPS calculated (annualized) -0.07 (-0.28) -0.01 (-0.04) 84%   2007 Q2 EPS restated
Price to Earnings ratio (PE)*  
Price to Book Value (PBV) 9.1 9.5 4%  
Return on Assets (ROA)* -25.8% -3.2% 88%
Return on Equity (ROE)* -44.8% -7.3% 84%
Return on Sales (ROS) or Profit Margin -92.9% -4.8% 95%
*Based on annualized profits          
Comments about Emirates Integrated Telecommunications Q2 2008 results

24 Jul 2008 (am): Although Du Telecom lost money for the quarter, there was a substantial decrease compared to the previous year, and it's about a third less than the previous quarter, so Du should be on track to turn a profit by sometime in 2009.

2008 Q1 and Q2 financial statements from Du don't match up though. 08H1 results should equal 08Q1 + 08Q2 figures. They do for Revenue and Net Profit, but not for Cost of Sales, Gross Profit, Other Income and Expenses. Presumably something has been restated in 08Q2 accounts but it's not clear what. The differences are not significant.

Have your say in the DU 2008 Q2 results forum topic, includes directors reports and news, if available.

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