Etisalat Egypt posts H1 revenues of AED 2.22 billion

Etisalat Egypt, a subsidiary of UAE telecom operator Etisalat, has announced financial results of the first half of this financial year that ends in June 2016.

The telecom operator generated revenues of 5.3 billion Egyptian pounds (AED 2.22 billion) against 4.5 billion pounds in the first half of last financial year.

Etisalat Egypt subscribers reached 22.2 million representing 23.6 percent of market share after attracting about 155,000 new subscribers.

Etisalat Egypt is 66 percent owned by Etisalat UAE, 20 percent by Egypt Post Authority, 5 percent by Abu Dhabi-based Das Holding, 5 percent by UAE-based DISC, 1.5 percent by Saudi technology development and investment company, and 2.5 percent by other Emirati companies.

Etisalat Group announced on Wednesday its consolidated financial statements for the three months ending on 30th June 2016. Consolidated net profit after Federal Royalty increased year over year by 51 percent amounting to AED 2.3 billion.