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FINANCIAL NEWS
Telecom Egypt total profits hit EGP14bn
14 Mar 2017
(MENAFN) Telecom Egypt (TE) has revealed its business results for the financial year 2016, which showed a strong financial and operational performance supported by all business units.
Furthermore, total consolidated results reached EGP14.1bn for FY 2016, compared to total revenues of 2015 estimated at EGP12.2bn, an increase of 16 percent.
Additionally, net profit after tax reached EGP2.7bn with a fall estimated at 10.9 percent compared to the same period in the previous year.
The firm’s head attributed the revenues to its precautions in the last quarter of 2016 in order to protect the rights of shareholders and workers.
MENAFN1403201700450000ID1095312134
MENAFN1403201700450000ID1095312134
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