Business

Telecom Egypt profits down 16.7 percent in 2014

Telecom Egypt posted LE1.5 billion in the first half of 2014, down 16.7 percent from 1.8 billion pounds in the same period a year earlier, the company said in a statement on Wednesday.
 
The company, however, said that it posted LE1.02 billion in net profit in the second quarter, up 14 percent from 895.6 million pounds in the same period a year earlier.
 
Telecom Egypt, the country's land-line monopoly, has an estimated 6.8 million subscribers, it also owns 44 percent of Vodafone Egypt.

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