Telecom Egypt’s profits increase to LE 3.15B in 2017
Telecom Egypt’s (ETEL) consolidated results increased 17.97 percent in 2017, recording LE 3.15 billion, compared to LE 2.67 billion in 2016.
While the company’s standalone results declined to LE 558.34 million in 2017, compared to LE 3.39 billion in 2016, according to a filing to the Egyptian Exchange (EGX).
The standalone revenues rose 33 percent amounted to LE 18.5 billion in 2017, compared to LE 13.9 billion a year earlier.
Telecom Egypt’s board of directors recommended cash dividend distributions to shareholders of LE 1.7 billion for 2017.
The board also proposed distributing a cash dividend of LE 1 per share for 2017 and retaining around LE 520.6 million for 2019.
Telecom Egypt is a public company, listed on Egyptian Exchange (EGX) since December 1999.
It operates within the Telecommunication Services sector focusing on Integrated Telecommunication Services.
It has 17 subsidiaries operating across British Islands, Western Europe, Northern Africa and Middle East. Telecom Egypt is based in 6th of October, Egypt and was established in January 1854.