Egypt’s Etisalat Misr posts $247.9 mln profits in nine months

Etisalat Misr, the Egyptian unit of the UAE’s Etisalat, has achieved profits worth 4 billion Egyptian pounds ($247.9 million) by the end of the first nine months of the year.

Nine-month revenues amounted to around 10.6 billion pounds against 8.8 billion pounds during the same period in 2018, making a 47 percent growth.

During third quarter of 2019, revenues were about 2.4 billion pounds, up from 1.8 billion pounds during the same period last year, according to the company’s results.

The company’s mobile operations accounted for 8.9 billion pounds in revenues, while fixed services accounted for 488 million pounds. On the other hand, the sales of appliances and equipment hit 213.5 million pounds, in addition to 681 million pounds in general sales.

The company’s customer base stood at 26.5 million pounds at the end of the third quarter of this year, losing 1.3 million customers compared to the same period last year, due to the National Telecom Regulatory Authority’s (NTRA) government measures.

The value of the company’s investments in the Egyptian market is about 50 billion pounds over the past 10 years, pointing out that the company has allocated investments worth 4.5 million pounds this year in the development of its infrastructure network, part of which is directed to digital services.

Source: Daily news