Telecom Egypt reports 3.3% increase in profit

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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 companys statement to the Egyptian Exchange on February 24^th.

The companys 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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