Egypt’s Global Telecom Holding turns into losses, achieving $42 mln in 2017

Egypt’s Global Telecom Holding (GTH), previously Orascom Telecom Holding Company, announced Thursday that it turned into losses, reaching $42 million in 2017 from profits of $194 million in 2016.

The company made profits estimated at $3.01 billion last year up from $2.95 billion a year earlier.

During the first nine months ended in September 2017, profits fell to $73.3 million versus $158.6 million during the same period in 2016.