Vodafone Egypt pre-tax profit rises 11% in H1

Vodafone Group Plc reported on Tuesday a 11 percent growth in its profit before tax in Egypt for the first half of the financial year ended on September 30.

The world’s second-largest mobile operator said its profit before tax in Egypt reached €244 million (4.9 billion Egyptian pounds and $274.5 million) from 4.3 billion Egyptian pounds last year.

Adjusted operating profit recorded around €164 million (around 3.3 billion Egyptian pounds), from €145 million last year, the company said in a statement.

Service revenue in Egypt for the first half of the financial year rose 16.9 percent to €522 million from €460 million in 2017, supported by continued strong operational performances.

“Egypt service revenue grew 16.9 percent … with successful segmented campaigns, rising data penetration and price increases supporting ARPU. Adjusted EBITDA grew 17.3 percent and the adjusted EBITDA margin improved by 0.5 percentage points to 45.6 percent with revenue growth and strong cost discipline more than offsetting inflationary pressures.” Vodafone statement said.

Numbers of Vodafone customers in Egypt has reached around 40.5 million at the end of September, the statement added.