TE announces 1Q results

16 May 2007

Telecom Egypt (TE) has recorded a 9% increase in 1Q sales to EGP2.4 billion (USD426 million) compared to the same period of 2006. Net profit increased 22% to EGP585 million while EBITDA rose from EGP1.25 billion to EGP1.35 billion. Operationally, ADSL was the star performer, recording a 20% increase in the three month period (186% in the year) to 111,030, to give it a 46.5% share of the country’s broadband market.

Egypt, Telecom Egypt