Telecom Egypt sees 74% net profit increase in 2021
08-03-2022 11:56:46 | by: Andrea Ayemoba | hits: 1713 | Tags:

Strong operational performance has driven Telecom Egypt’s net profits to an annual increase of 74 percent during the year 2021.

The net profit of Egypt’s primary telecom company has reached 8.4 billion Egyptian pounds ($535 million), the company said in a statement. 

The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds. 

“Our remarkable performance is credited to our unique and valuable product offerings that cater to all customer segments, our internal system upgrades, and our ability to capitalize on our distinctive infrastructure that spans both Egypt and the region,” Chief Executive Officer, Adel Hamad, said. 

The Egypt-based company is also contributing to national digitization projects, he added.