UAE telecommunications company du has announced record-breaking financial results for 2024, reflecting significant growth in revenue and profit. The company reported a revenue of AED 14.64 billion, representing a 7.3% increase compared to the previous year. Additionally, du achieved a remarkable 49.1% surge in net profit, reaching AED 2.49 billion.
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The Dubai Media Office shared the company’s financial success on X, highlighting the exceptional financial and operational performance. The announcement emphasized that du’s Board of Directors has proposed an annual dividend of 54 fils per share, a 59% increase, making it the highest dividend in the history of the company. This increase in dividends reflects du’s strong financial standing and commitment to rewarding its shareholders.
The company itself also celebrated the achievement, posting, “We’re pleased to announce our outstanding financial results for 2024. We achieved a record-breaking financial & operational performance.” The statement reaffirmed du’s position as a leading telecommunications provider in the UAE, showcasing the company’s ability to drive growth and profitability.
Despite this financial milestone, du customers in Dubai faced a temporary disruption in connectivity on Saturday. Users experienced interruptions in internet and phone services for an hour due to a technical issue. The company quickly issued a statement apologizing for the inconvenience and worked to restore services as soon as possible.
Du’s impressive financial results underscore its ongoing expansion and success in the highly competitive telecommunications sector within the UAE. The substantial increase in both revenue and net profit demonstrates the company’s strong ability to not only attract new customers but also retain existing ones by continuously improving its service offerings. The significant rise in dividends proposed by the Board of Directors further reflects the confidence in du’s sustained growth trajectory and its solid financial standing. By delivering consistent financial gains, the company continues to strengthen its position as a key player in the market, reassuring investors and stakeholders about its long-term stability and profitability.
Although the brief service disruption may have temporarily affected customers, du’s prompt response in addressing and resolving the issue highlights its commitment to providing reliable services. The company’s ability to swiftly manage such technical challenges reinforces its dedication to customer satisfaction and service excellence. While occasional technical difficulties are inevitable in the telecommunications industry, du’s proactive approach in minimizing the impact and ensuring quick restoration of services reflects its focus on maintaining a high standard of operational efficiency. As the company continues to grow and achieve record-breaking financial milestones, it solidifies its reputation as a leading telecommunications provider in the UAE, demonstrating both financial strength and a customer-centric approach to business.
