du posts $15.7m Q2 net profit

Telcoms firm du posted on Sunday a second-quarter net profit of AED57.65m ($15.7m) in the second quarter, in-line with analysts forecasts as the UAE firm added subscribers.

Net income was up 231.5 percent from a loss of AED43.84m in the corresponding period in 2008.

"We have seen solid progress across the business and, having already reached our target of 30 percent market share one year ahead of schedule, we are now working towards capturing 35 percent of the market in 2010," du's chairman Ahmed bin Byat said in a statement.

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