ICEC

Egypt’s Global Telecom Holding posts 33% up in Q2 net profits

Egypt’s Global Telecom Holding Company (GTH), previously Orascom Telecom Holding, reported Thursday a 33.4 percent growth in its second quarter net profits to reach $35 million.

Earlier, profits stood at $26 million during the second quarter of 2016.

Revenues climbed by 10.4 percent to $765 million during the second quarter of 2017, compared with $639 million during the same quarter in 2016.

During the first half, revenues jumped by 8.4 percent to $1.518 billion from $1.400 billion during the same period in 2016.

Net profit fell by 68.1 percent to $36 million during the first half, compared to $144 million during the same half in 2016.

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