EMIRATES INTEGRATED TELECOMMUNICATIONS COMPANY Emirates Integrated Telecommunications
Company PJSC and its subsidiaries
Review report and condensed consolidated financial information for the six-month period ended 30 June 2022
Emirates Integrated Telecommunications
Company PJSC and its subsidiaries
Condensed consolidated financial information
Pages | |
Report on review of condensed consolidated financial information | 1 |
Condensed consolidated statement of financial position | 2 |
Condensed consolidated statement of comprehensive income | 3 |
Condensed consolidated statement of changes in equity | 4 |
Condensed consolidated statement of cash flows | 5 |
Notes to the condensed consolidated financial information | 6 - 21 |
Review report on condensed consolidated interim financial information to the board of directors of Emirates Integrated Telecommunications Company PJSC
Introduction
We have reviewed the accompanying condensed consolidated statement of financial position of Emirates Integrated Telecommunications Company PJSC and its subsidiaries (the 'Group') as at 30 June 2022 and the related condensed consolidated statements of comprehensive income for the three-month and six-month periods then ended, and condensed consolidated statements of changes in equity and cash flows for the six-month period then ended and notes, comprising a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with International Accounting Standard 34 'Interim Financial Reporting' ('IAS 34'). Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review.
Scope of review
We conducted our review in accordance with International Standard on Review Engagements 2410, 'Review of interim financial information performed by the independent auditor of the entity'. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial information is not prepared, in all material respects, in accordance with IAS 34.
PricewaterhouseCoopers
21 July 2022
Murad Alnsour
Registered Auditor Number 1301
Dubai, United Arab Emirates
PricewaterhouseCoopers (Dubai Branch), Licence no. 102451
Emaar Square, Building 5, P O Box 11987, Dubai - United Arab Emirates
T: +971 (0)4 304 3100, F: +971 (0)4 346 9150, www.pwc.com/me
Jacques Fakhoury, Douglas O'Mahony, Murad Alnsour and Rami Sarhan are registered as practising auditors with the UAE Ministry of Economy
(1)
Emirates Integrated Telecommunications Company PJSC and its subsidiaries
Condensed consolidated statement of comprehensive income For the six-month period ended 30 June 2022
Reviewed six-month | Reviewed three-month | |||||||
period ended 30 June | period ended 30 June | |||||||
2022 | 2021 | 2022 | 2021 | |||||
Notes | AED 000 | AED 000 | AED 000 | AED 000 | ||||
Revenue | 21 | 6,265,027 | 5,738,105 | 3,136,922 | 2,854,811 | |||
Operating expenses | 15 | (4,689,456) | (4,370,466) | (2,343,456) | (2,180,424) | |||
Expected credit losses (net off recoveries) | (67,515) | (93,440) | (40,357) | (45,326) | ||||
Other income | 202 | 178 | 47 | 111 | ||||
Federal royalty | 16 | (856,005) | (740,938) | (429,685) | (368,779) | |||
Finance income | 17 | 13,911 | 16,426 | 5,275 | 5,378 | |||
Finance costs | 17 | (47,733) | (50,630) | (24,075) | (24,500) | |||
Share of loss from investments accounted for | ||||||||
using equity method | 6 | (4,441) | (2,238) | (1,869) | (1,423) | |||
Profit for the period | 613,990 | 496,997 | 302,802 | 239,848 | ||||
Items that will not be re‐classified to profit or | ||||||||
loss | ||||||||
Fair value changes on financial asset at fair | ||||||||
value through other comprehensive income | (5,200) | - | (5,200) | - | ||||
Other comprehensive income for the period | (5,200) | - | (5,200) | - | ||||
Total comprehensive income for the period | ||||||||
attributable to shareholders of the Company | 608,790 | 496,997 | 297,602 | 239,848 | ||||
Basic and diluted earnings per share (AED) | 18 | 0.14 | 0.11 | 0.07 | 0.05 |
The notes on pages 6 to 21 form an integral part of these condensed consolidated financial information. | (3) |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Emirate Integrated Telecommunications Company PJSC published this content on 22 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2022 05:03:02 UTC.
