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FINANCIAL NEWS
Telecom Egypt posts 12.8% drop in 2012 profit
11 Mar 2013
(MENAFN) Telecom Egypt stated that its 2012 profit declined by 12.8 percent from a year before, reported Reuters.
The landline monopoly stated that full-year net profit went down to USD384 million.
The company added that fourth-quarter profit reached USD66.91 million.
Meanwhile, margin in its earnings before interest, taxes, depreciation and amortization (EBITDA) fell to 37.1 percent from 46.7 percent a year earlier.
It is worth noting that Telecom Egypt is heavily relying on data services to make up for less fixed line income.
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