Telecom Egypt net profit drops 15pc
Cairo, August 15, 2011
Landline monopoly Telecom Egypt posted 15 percent drop in second-quarter results on Monday, the company said in a statement.
The company made a net profit of 826 million Egyptian pounds($138.8 million), down from 971 million pounds in the same period a year earlier.
Revenues dropped 3.7 percent to 2.61 billion pounds from 2.71 billion pounds at the same period last year. But revenues grew 8.5 percent from Q1. Earnings before interest, tax, depreciation and amortisation were 1.25 billion pounds, down from 1.4 billion. - Reuters
More IT & Telecommunications Stories
- US firm supplies biometric software to Saudi
- Du to support SMEs in Ajman
- Red Hat to launch new PaaS
- Egypt to offer unified telecoms licence soon
- Bahrain 'a key player in Nokia Mideast growth'
- Mobily App Store records 3m downloads
- Cyber threat spurs new drive to step up online security
- CSPs to face big revenue challenges
- Bahrain set to bolster e-content
- Batelco wins eContent award