In the first half of 2018, the state-owned landline monopoly’s net profit fell 18.2% to EGP 2.06 billion, from EGP 2.52 billion in H1-17, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.
Revenues increased to EGP 10.12 billion in the six-month period ended June, compared to EGP 8.73 billion in the year-ago period.
Meanwhile, standalone profits rose to EGP 1.42 billion in H1-18, versus EGP 1.39 billion in the corresponding period of 2017.
The EGX-listed company previously reported a 48% year-on-year drop in consolidated profits for Q1-18, generating EGP 689.6 million in net profit from EGP 1.3 billion, including minority shareholders’ rights.
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