Orascom's net income falls 4%, EBITDA up 22%

2 Sep 2008

Egypt-based mobile group Orascom Telecom today posted a 4% year-on-year drop in 1H08 net profit to USD276 million, on revenues that rose by 19% to USD2.652 billion. Earnings before interest, taxation, depreciation and amortisation (EBITDA) climbed 22% to USD1.16 billion in the six months ended 30 June 2008. The group reported that its consolidated international subscriber base grew 31% year-on-year on a pro forma basis to reach 77 million at mid-2008 (excluding its formerly 50%-owned Iraqi subsidiary Iraqna).

Egypt, Global Telecom Holding (GTH, formerly OTH)