Mobinil Pared Losses To EGP 230 Mln

The Egyptian Company For Mobile Services (Mobinil)-(EMOB.CA) has trimmed its losses within the fourth quarter of 2012, by 22.5% to report a net loss of around EGP 137 million, compared to a net loss of EGP 177 million during the same period a year earlier. 

In 2012, Mobinil has trimmed its losses by about 9%, compared with the previous year, as the losses have hit around EGP 230 million, the revenues slightly rose by 2% to EGP 10.043 billion.

Kais Ben Hamida, Mobinil CFO, said the firm has trimmed its losses after two years of decline in its revenues, reporting a growth of about 1.6%. In addition, during the year of 2012 – Mobinil has made up a comprehensive plan aiming to rationalize the expenses leading to starting to bear fruits of such a plan, Ben Hamida added. 

Moreover, Ben Hamida tackled the factors leading to achieving growth in revenues saying that it was due to the continuous growth in data services as well as in value-added services. He expected that data services growth will be continued substantially within the coming years.