TE Achieves EGP5.4 bln In Q1, Eyes EGP11 bln By Year-End

Eng. Mohamed Al-Nawawi, CEO of Telecom Egypt (TE), said TE succeeded to achieve EGP 5.49 billion as a highest return within the first 6 months of 2013, pointing out that the highest return which has been achieved by TE was EGP10.3 billion in 2010.

 Al-Nawawi added that TE is expecting to achieve EGP 11 billion revenues during the current year and this is largest revenues for the company since 160 years.

 He has explained that the outcome of TE’s works revealed TE’s net profit rise by 14.6% on the first half of 2013, amounting to EGP 1.7 billion in this year, compared to EGP1.5 billion in 2012.

 It is worth mentioning that the number of TE’s  subscribers reached 40.6 million, compared to 37.6 million in 2012, with 7.9% jumping.