Cairo – Mubasher: Orange Egypt for Telecommunications on Monday reported a 3,707% year-on-year surge in losses, according to a bourse filing.
The losses of the Egyptian operator amounted to EGP 803 million in the three months ended June 2017 from EGP 21.09 million in the corresponding period of 2016.
The company suffered losses of EGP 300.6 million in the three months ended March, versus EGP 12.3 million in the same period of the year before.
In the first half of 2017, Orange Egypt posted a 3,205% year-on-year increase in losses to EGP 1.103 billion against EGP 33.39 million in H1-16.
The consolidated sales of the telecommunication company rose to EGP 6.12 billion in H1-17 against EGP 5.75 billion in H1-16.
The independent financial indicators showed that Orange Egypt has turned to losses in H1-17 at EGP 1.013 billion against profits of EGP 33.25 million in H1-16.
