Du logs $653mln net profits in 2024; highest dividends unveiled
Revenues increased by 7.30% to AED 14.63 billion at the end of December 2024 from AED 13.63 billion, according to the financial results.
Basic and diluted earnings per share (EPS) climbed to AED 0.55 last year from AED 0.37 in 2023.
Financials for Q4
In the fourth quarter (Q4) of 2024, the telecom group generated 47.50% higher net profits at AED 585 million, compared to AED 396 million.
The revenues grew by 8.80% to AED 3.87 billion in Q4-24 from AED 3.55 billion in Q4-23.
Cash Dividends
The board recommended distributing 34 fils per share as the final dividend for 2024, taking the full-year dividend to 54 fils per share. This marks the highest dividend in the history of du.
Malek Sultan Al Malek, Chairman of du, said: 'Our mobile and fixed network, supporting close to 10 million subscribers, is forming the backbone of the UAE's digital economy, highlighting the success of our customer-centric and digital-first approach.'
'Our outlook remains positive as we continue to progress on our transformation journey, prioritise emerging technologies, and strengthen our position in the telecom and ICT sectors to meet evolving market demands,' Al Malek highlighted.
Fahad Al Hassawi, CEO of du, commented: '2024 was a pivotal year for du. Key milestones included the launch of the du Tech and du Infra sub-brands, the roll-out of the du Pay fintech solutions, and the deployment of the Middle East's first indoor 5G-Advanced Network,' Al Hassawi mentioned.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 hours ago
- Zawya
Du Pay launches 'Salary in the Digital Wallet' feature, empowering financial inclusion for the UAE workforce
Dubai, UAE – du Pay, the advanced digital financial services subsidiary of du launches the 'Salary in the Digital Wallet' (SITW) feature, a cutting-edge service that allows UAE workforce to receive their salaries directly into their digital du Pay wallets. This feature will enhance the lives of the workforce in the UAE through access to simple, secure, and digital financial services. The newly added functionality enables customers to get a unique IBAN when registering with du Pay, making it easy to receive salaries into the digital wallets. The initiative is set to transform the way the workforce manages their earnings, empowering them with instant access to their funds through the du Pay mobile application, and a physical du Pay card for cashless transactions. The Digital Wallet feature is especially beneficial for the significant portion of UAE's workforce earning less than AED 5,000 per month and who typically have very limited or no access to traditional banking services. Now, customers can open a zero-balance account with du Pay, avoid the hassle of cash handling and enjoy the convenience of digital transfers and payments. du Pay digital wallet services also enable customers to do international money transfers, bill payments, telco recharges, order a debit card and do card payments. du Pay intends to launch more features to further digitize disbursements where UAE employers can leverage this seamless, efficient solution to support the UAE's vision for a digitized and inclusive workforce environment. About du Pay: A part of the Emirates Integrated Telecommunications Company (EITC), du Pay is set to transform digital financial services following du's commitment to pushing the boundaries of economic, social, and digital evolution in the UAE. du Pay offers a wide array of financial services — from competitive international money transfers, mobile recharges and seamless online and offline payments within the UAE powered by a debit card. du Pay is licensed by the Central Bank of the UAE and leverages du's robust infrastructure and innovation. du Pay focuses on inclusivity and security, making comprehensive financial services within reach for every resident across the UAE.
Zawya
5 hours ago
- Zawya
Turner & Townsend appointed to deliver du's first hyperscale data centre in the UAE
Global professional services company Turner & Townsend announed on Monday that it been appointed by du [The Emirates Integrated Telecommunications Company PJSC] to provide project and cost management services for its landmark hyperscale data centre in Dubai. In April 2025, du had announced a 2 billion UAE dirhams ($544.54 million) hyperscale data centre deal with Microsoft. A press statement by Turner & Townsend said the du's first hyperscale data centre, which will be located on a 20,000-square metre greenfield site, is designed to significantly enhance du's data centre capabilities and expand hyperscale cloud infrastructure in the region while targeing LEED Gold sustainability certification. Ajay Mangara, Data Centre Lead, UAE, at Turner & Townsend, said the firm will provide expert guidance and oversight to support, advise, and manage this initiative, leveraging its expertise and track record in delivering complex data centre projects across the region and globally. (Writing by SA Kader; Editing by Anoop Menon) (
Zawya
5 hours ago
- Zawya
Turner & Townsend appointed to deliver du's first hyperscale data centre in the United Arab Emirates
Turner & Townsend, the global professional services company, has been appointed to provide project and cost management services for the landmark hyperscale data centre development in Dubai. Located on a 20,000 sqm greenfield site, the hyperscale data centre is designed to significantly enhance du's data centre capabilities and expand hyperscale cloud infrastructure in the region. Upon completion, it will be a state-of-the-art data centre, with an emphasis on high resilience, flexible features and energy efficiency underscored by a commitment to achieving LEED Gold sustainability certification. This data centre is anticipated to further solidify the UAE's position as a key player in global digital infrastructure and support its ambition to become a leading regional hub for artificial intelligence. Ajay Mangara, Data Centre Lead, UAE, at Turner & Townsend, said: 'We are thrilled to be appointed to manage project and cost management services for this ground-breaking hyperscale data centre for du, a landmark development that will shape the future of digital infrastructure in the region. 'We will provide expert guidance and oversight to support, advise, and manage this transformative initiative, leveraging our deep expertise and proven track record in delivering complex data centre projects across the region and globally. 'We are committed to ensuring world-class execution and look forward to building a strong and enduring partnership with du as we bring their ambitious vision to life.' For more information please contact: Andrew Gilbertson / Tom Hayes Camargue T + 44 (0) 20 7636 7366 E turntown@ About Turner & Townsend Turner & Townsend is a global professional services company with over 22,000 people in more than 60 countries. Working with clients across real estate, infrastructure, energy and natural resources, Turner & Townsend specialises in major programmes, project, cost and commercial management, project controls and performance, net zero and digital solutions, in markets around the world. Turner & Townsend is majority-owned by CBRE Group, Inc., the world's largest commercial real estate services and investment firm, with its partners holding a significant non-controlling interest.
