e& profit jumps 17% as digital investment drives subscriber growth in first half

The group’s growing subscriber base is evidenced by the total subscriber base reaching 175 million, a significant increase of 6 percent compared to last year. The total subscriber base of e& UAE reached 15 million, an increase of 5 percent compared to the previous year.

The company said e& has also approved an interim dividend of 41.5 fils per share for the first half of the year (January to June) 2024, in line with the new dividend policy that was approved by shareholders at the annual general meeting (AGM) earlier this year.

The newly approved dividend policy envisages a gradual increase of Dh0.03 per share each year in financial years 2024, 2025 and 2026, it added.

Jassem Mohamed Bu Ataba Alzaabi, e& CEO, said: “We are proud of the progress made in the first half of 2024, which was reinforced by our recent acquisitions, partnerships and the strategic expansion of our digital services portfolio.”

Reflecting on e&’s growth trajectory and future prospects despite challenges in some markets, Alzaabi commented: “Our continued investment in digital infrastructure and new technologies positions us as a driver of innovation and growth, making us a preferred partner in developing the digital economy.”

Hatem Dowidar, Group Chief Executive Officer, e&, said: “We have embraced advanced and emerging technologies, launching numerous AI-based initiatives and platforms, underlining our leadership in digital transformation. Strategic partnerships have expanded our service portfolio, while we continue to expand our global presence through successful acquisitions.

“As we look to the future, I am confident that our commitment to empowering individuals, businesses and communities through technology will pave the way for growth and make a significant impact on people’s lives. Despite challenges in some markets, we will focus on capitalizing on the opportunities ahead,” Dowidar added.