Telecom Egypt reports US$192 million profit 1H06

Half year EBITDA increased by 6% year-on-year to reach EGP2.5 billion, with a 56% EBITDA margin that remains one of the industry’s highest.

  • E-Mail
By  Tawanda Chihota Published  August 16, 2006

Telecom Egypt, the largest fixed- line telco in the Middle East and North Africa, has announced that first-half profit rose 7% on subscriber growth. Net income grew to Egyptian Pounds (EGP) 1.1 billion (US$191.5 million), from EGP1 billion a year earlier. The number of fixed-line subscribers rose 9% to 10.6 million in the first six months from 9.8 million a year earlier, while sales rose 9% to EGP4.4 billion from EGP4 billion. "The emphasis of our activities will now begin to shift to subscriber segments where demand for additional telecommunications services is intensifying," commented Telecom Egypt's chairman, Akil Beshir. Fixed line penetration reached 14.8% in Egypt at the end of June, with Telecom Egypt also reporting a substantial growth in the number of ADSL subscribers – from 16,000 in June 2005 to 48,000 in June 2006. Half year EBITDA increased by 6% year-on-year to reach EGP2.5 billion, with a 56% EBITDA margin that remains one of the industry’s highest.

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code