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Telecom Egypt reports EGP 5B profit

Telecom Egypt reports EGP 5B profit

ArabFinance: Telecom Egypt (TETL) achieved a consolidated net profit of EGP 4.58 billion in 2020, compared to EGP 4.39 billion in 2019, according to the company’s statement to the Egyptian Exchange on February 24th.

The company’s standalone profit stood at EGP 2.16 billion in 2020, compared to EGP 5.43 billion in 2019.

The company reported a 3.3% YoY increase in its consolidated net profit for the first nine months of 2020, recording EGP 3.53 billion.

Telecom Egypt is an Egypt-based joint-stock company, which is engaged in the provision of public communications and associated products and services.

The company operates under the following segments: communications, marine cables, and infrastructure; internet services, as well as outsourcing services. It offers a range of fixed-line and retail telecommunications services, as well as wholesale telecommunications services.


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04 Oct 2021
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