Telecom Egypt reports 16% boost to net profit
Telecom Egypt has reported that in the twelve months ended 31 December 2006 it generated EGP9.5 billion (USD1.68 billion) in sales, an 11% increase on the previous year’s figure.
EBITDA climbed from EGP4.7 billion in 2005 to EGP5.4 billion while net profit climbed 16% to EGP2.4 billion. Retail services generated 69% of total turnover, with local voice services representing one of the highest growth segments with an increase of 24% year-on-year to EGP1.97 billion as a result of the net effects of cost-based tariff rebalancing.
ADSL services, offered by its 95% owned subsidiary TE Data, also reported booming sales, with broadband subscriptions increasing threefold during the year to 92,332.