March 4, 2014 / 10:56 AM / 3 years ago

UAE's Etisalat Q4 profit rises 70 percent

DUBAI, March 4 (Reuters) - Etisalat, the United Arab Emirates No.1 telecom operator, reported a 70 percent rise in fourth-quarter profit on Tuesday.

The former monopoly, which operates in about 15 countries across the Middle East, Africa and Asia, made a net profit of 1.45 billion UAE dirhams ($394.77 million) in the three months to Dec. 31, according to Reuters calculations.

This compares with a profit of 854 million dirhams a year earlier.

Etisalat's 2013 net profit was 7.08 billion dirhams, the government-controlled company said in a bourse statement on Tuesday, up from 6.74 billion dirhams in 2012. ($1 = 3.6730 UAE dirhams) (Reporting by Matt Smith; editing by Olzhas Auyezov)

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