Hermes Says OTH Likely To Post EGP 95 Mln Q2 Profits

EFG-Hermes Holding expected Orascom Telecom Holding (OTH) (ORTE.CA) to post EGP 95 million net profit for Q2/2012, with a drop of 17% quarter-on-quarter. It also projected the telco to generate EGP 293 million earnings in FY/2012, with a fall of 56%.

OTH was forecasted to record EGP 928 million revenue in Q2/2012, retreating 7% Y-o-Y but rising 3% Q-o-Q. Revenue was seen hitting EGP 3.767 billion in FY/2012, with a 2% decrease Y-o-Y.