Vodafone Egypt pre-tax profits rise 22.4% at end-FY2019/20

Mobile network operator Vodafone Egypt reported on Thursday a 22.4 percent year-on-year rise in profits before interest and tax at the end of financial year 2019/2020.

The company’s financial year begins in April per year and ends in March.

Profits before interest and tax for the year ended in March reached 11.35 billion Egyptian pounds (equivalent to €666 million or $720.4 million or), up from 8.8 billion pounds a year earlier.

Vodafone’s total revenues also rose 23.5 percent year-on-year to around 24.75 billion pounds during the financial year 2019/2020, according to a copy of the company’s financial statements reviewed by Amwal Al Ghad.

Operating income also surged 29.4 percent to about 8.5 billion pounds, compared with 6 billion pounds a year earlier.