Telecom Egypt increases net profits despite falling revenues

14 August 2008
Telecom Egypt, the country's monopoly fixed-line operator, increased its net profits by 15 per cent during the first six months of 2008, despite a small decline in revenues.

The company generated net profits of £E1.5bn ($280m), up from £E1.3bn in the same period of 2007.

Telecom Egypt's revenues for the first half of the year were £E4.8bn, compared with E£4.9bn at the same point in 2007.

The company did increase its number of fixed-line customers by 3 per cent to 11.3 million by the end of June. Its broadband internet business, TE Data, added 80,000 customers to finish the half with 300,000 customers.

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