Telecom Egypt Says Q2 Net Profit Climbs 45.5%

Telecom Egypt (ETEL.CA) said on Wednesday its consolidated net profit in the second quarter climbed 45.5 percent, boosted by a 16.1 percent growth in revenues compared to the same period of last year.

Net profit stood at 896 million Egyptian pounds ($128.2 million) in the three months ending June 30, outstripping analyst estimates, compared to 616 million pounds a year earlier. Consolidated revenue was 2.77 billion Egyptian pounds, up 16 percent from a year earlier.

Source: Reuters