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TE reports $425m in full-2013 earnings

: Saturday, April 12 - 2014 @ 01:11

Telecom Egypt has posted a net profit of EGP2.96bn ($425m) for 2013, up from EGP2.62bn a year earlier, Reuters has reported. The fixed line monopoly operator, whose revenues rose to EGP11.13bn from EGP10.03bn, said it would pay EGP1 ($0.14) per share, down from EGP1.30 a year earlier, despite higher sales and profits. Earlier in April, telecoms minister Atef Helmy said the company has been asked to pay EGP2.5bn for a mobile licence it seeks, and has also been given a one-year deadline to sell its near 45% stake in Vodafone Egypt.

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Saturday, April 12- 2014 @ 1:11 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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