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FINANCIAL NEWS
Egypt’s Orascom Telecom reports USD474m loss in Q4
06 Mar 2013
(MENAFN) Egypt’s Orascom Telecom Holding SAE announced that during the fourth quarter, the company’s loss reached USD474 million, reported Bloomberg.
The mobile phone company noted that the figure is higher from the USD125-million loss posted in the same period a year before.
It added that quarterly revenue rose by 1.4 percent, reaching USD908 million, of which USD466 million came from Algerian unit Djezzy.
It is worth noting that Orascom’s results during the fourth quarter included an impairment charge of USD339 million against a loan to its Canadian unit.
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