Telecom Egypt has announced a 11 percent growth in its net profit in the second quarter with $142.66 million. In an official statement today, the Fixed-line monopoly said that “every one of our business units has delivered revenue growth when compared to both the previous year and the previous quarter, allowing us to record the highest quarterly revenue result in the history of the company.”
According to Ahram newspaper, Telecom Egypt is waiting for the government to approve a unified license for mobile and landline services that would allow it to offer mobile services and boost earnings. It has been waiting to launch a new mobile operation that would complement its existing joint venture with Vodafone and rival the sector’s two other players.
GIB Egypt – AGENCIES