Vodafone Egypt hits EGP4 bln in Revenues by March-end

Vodafone’s Egyptian arm has achieved 4 billion Egyptian pounds (US$524 million) in revenues during the fourth quarter of fiscal year 2014-15 ended in March 2015.

According to the firm’s financial indicators, the annual growth rate in Vodafone Egypt’s revenues hit 3.4%, compared to the same period of 2014.

The parent company in UK stated that the net profit has declined to £5.76 billion during the fiscal year- ended in March 2015- in comparison with £5.93 billion in the same period of 2014.

Vodafone Egypt announced investing 4.5 billion Egyptian pounds in upgrading the network through the past 15 months ended in March 2015. It also revealed that it pumped 420 million pounds to provide alternatives for the electricity cuts, adding that the company now provides 99% accessibility all over Egypt.

Moreover, Ministry of Communication and Information Technology index revealed a declination in the market share that Vodafone Egypt possesses estimated at 40.000 users to make Vodafone now own 41.5% of the market share with total 39.5 million subscribers.