Egyptian fixed line monopoly operator Telecom Egypt has posted a 1.7% year-on-year rise in consolidated net profit to EGP912 million (USD151 million) for the first quarter of 2012, on revenues which climbed by 12% to EGP2.68 billion. The telco’s earnings before interest, tax, depreciation and amortisation (EBITDA) reached EGP1.39 billion in the three months to the end of March, representing a 52% EBITDA margin. As reported by Reuters, CEO Tarek Aboualam stated: ‘Following a turbulent year in 2011, the Egyptian business environment is showing signs of normalising.
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OVETEL Telecom Egypt’s profits rise 1.7% in ‘improving’ business environment
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