Mobinil: H1/2012 Net Losses 45.2% Down

The Egyptian Company for Mobile Services – Mobinil (EMOB.CA) has pared its net losses by 45.2% as they reached EGP 46.987 million during the first half of 2012. Noting that, Mobinil had posted net losses of EGP 84.749 million during H1/2011.

The company’s H1/2012 operation revenues increased to reach EGP 5.088 billion, compared to EGP 5.047 billion during H1/2011.

On the other hand, Mobinil’s operation net profits for H1/2012 dropped to reach EGP 347.082 million, compared to EGP 628.532 million during H1/2011.

In the meanwhile, Mobinil’s standalone business results during H1/2012 reported net losses of EGP 14.793 million, compared to net losses of EGP 43.884 million during H1/2011.

Worth mentioning, Mobinil’s issued and paid-up capital values at EGP one billion distributed to 100 million securities in which the par value amounts to EGP 10 a share.