Telecom Egypt says net income up 35% year-on-year

13 Nov 2008

Egypt’s incumbent fixed line operator Telecom Egypt (TE) posted net income of EGP951.6 million (USD172 million) for the three months ended 30 September 2008, up nearly 35% on the corresponding period of 2007. The telco said net operating profit also increased to EGP730.6 million. According the TeleGeography’s GlobalComms database TE was established in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organisation (ARENTO) and is the third largest fixed line provider in the Middle East and Africa with a fixed line customer base of 11.23 million at the end of 2007 (up 4% year-on-year) and capacity of 13.75 million lines. It retained a monopoly on public payphone services until 1998, pre-paid wireline services until 2003 and the local, long-distance and international market to 31 December 2005.

Egypt, Telecom Egypt