Wednesday 24 August 2016
 
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Telecom Egypt

Telecom Egypt more than doubles Q1 profit

Telecom Egypt, the country's state-owned landline monopoly, achieved an almost 116 percent jump in first-quarter net profit, it said on Monday. The company posted a profit of E£1.2 billion ($135 million) in the first thr

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Vodafone in deal to release $381m in deferred dividends

Telecom Egypt, the state-owned landline monopoly, said it had struck a deal with Vodafone Egypt under which the mobile operator would release at least E£3.34 billion ($381 million) in withheld dividends. Telecom Egypt owns 4

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Trading of Telecom Egypt shares suspended

Egypt's stock exchange suspended trading of shares of Telecom Egypt, the state-owned landline monopoly, on Wednesday after the government replaced all of its representatives on the company's board of directors, two sources told Reuters.

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Telecom Egypt projects 7-9pc revenue growth in 2016

Telecom Egypt, the country's state-owned landline monopoly, expects revenue growth between 7 per cent and 9 per cent in 2016, it said on Tuesday. The company projected a profit margin before interest, tax and depreciation of b

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Telecom Egypt chairman steps down

Mohamed Salem, chairman of Egypt's state-owned landline telecom monopoly Telecom Egypt , said he resigned on Saturday, shortly after a new government was sworn in by President Abdel Fattah Al Sisi. Salem, a former telecommunic

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Telecom Egypt posts Q2 profit of $48.3m

Telecom Egypt reported a 2015 second-quarter profit after tax of 378 million Egyptian pounds ($48.28 million), up 55 per cent on the year, the company said in a statement on Monday. "Retail revenues remain strong, buoyed by t

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Telecom Egypt to replace chairman, CEO

Egypt's prime minister has appointed new government representatives to the board of state-owned landline monopoly Telecom Egypt, his office said in a statement on Wednesday. The new board of the company will meet on Wednesday

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Telecom Egypt to spend $393m on infrastructure

Telecom Egypt (TE) will spend E£3 billion ($393 million) on its infrastructure development this year, the telecom company's chief executive officer was quoted as saying. The company received a revenue of E£1.2 bill

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Telecom Egypt Q2 profit up 14pc to $142m

Fixed-line monopoly Telecom Egypt posted $142.66 million in net profit in the second quarter and said on Wednesday it hoped to obtain a unified landline and mobile license soon allowing it to boost earnings further. The net profit

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Telecom Egypt Q1 profit plunges 36pc

Telecom Egypt, the country's fixed-line monopoly operator, reported a 36 per cent fall in first-quarter net profit on Tuesday, saying business was hit by the weak economy. The company, which is 80 per cent owned by the governm

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