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Thursday, 05 August 2021

Egypt's Global Telecom reports Q3 2015 net profit of $13 million

Reuters , Friday 6 Nov 2015

Global Telecom, the Egypt-based group formerly known as Orascom Telecom, reported on Friday a $13 million net profit for the third-quarter of 2015 compared to a $157 million loss in the same period last year, it said in a statement.

The company, which is 51.9 percent owned by VimpleCom , said its net loss attributable to shareholders in the quarter was $32 million versus a $161 million loss last year.

Minority interest increased due to the sale of a 51 percent stake in OTA in Algeria, the company said. 

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