Emirates Integrated Telecommunications Co (du) aims to achieve financial savings of up to AED 1 billion by 2020 as part of its plan to boost the company’s operating efficiency and to cut expenses, the company’s CEO Osman Sultan said.
du’s three-year plan to boost operating efficiency will end by 2020 and is expected to save around AED 1 billion a year, Emarat Al Youm reported, citing Sultan.
Sultan stressed that the company will maintain the plan after 2020.
He further noted that the company has repaid AED 1.41 billion of the franchise fees in the first half of 2019.
In the same vein, he said that the telecom firm has recruited 477 new employees in 2018, while 318 employees resigned on their own free will.
Du is also looking to invest around AED 1.6 billion to AED 1.8 billion this year, mainly in upgrading existing landline and cellular networks, including the 5G networks, the CEO indicated.
On Tuesday, du revealed it logged a profit after royalty of AED 464 million during the second quarter of 2019, up 2.5% from AED 453 million in Q2-18.
The company’s board of directors proposed the distribution of AED 589 million in cash dividends for the first six months of 2019.