Global Telecom Profits Register EGP 297 mln in 1Q2014

International telecoms firms Global Telecom Holding (GTH) (GTHE.CA),the Egypt-based group formerly called Orascom Telecom, posted consolidated and standalone financial results for Q1 that ended on March 31, 2014.

Consolidated financial results showed EGP 297 million net profit, against EGP 1.4 billion net loss in the same period a year earlier.

Meanwhile, standalone financial results for the same period mirrored EGP 698 million net loss, compared with EGP 1.6 billion net loss in Q1-13.