Telecom Egypt Says Q3 Revenue Surges 15.6%

Telecom Egypt (TE) (ETEL.CA) on Wednesday reported a 15.6 percent increase in revenue in the third quarter compared with the same period last year.

The landline monopoly, of which the government owns 80 percent, posted a net profit of 650 million Egyptian pounds ($94.4 million) and revenue of 2.86 billion.

Its earnings before interest, taxes, depreciation and amortization (EBITDA) reached 1.131 billion pounds. ($1 = 6.8886 Egyptian pounds)