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TE profits EGP 1.2bn in Q3 2015 - Daily News Egypt

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TE profits EGP 1.2bn in Q3 2015

Company's keenness to understand the requirements and desires of customers positively reflected on the overall results, says statement


By Mohammed Alaa El-Din

Telecom Egypt’s (TE) business results for the third quarter (Q3) of this year revealed that the company achieved revenues of EGP2.9bn, marking a growth of 8% from the same period last year, while net profit amounted to EGP 1.2bn.

The total capital expenditure for Q3, which ended on 30 September, amounted to EGP 1.6bn. This increase in capital expenditures is mainly due to investment in the modernisation of networks and the replacement of the technology depending on copper cables with fibre-optic cables.

Results for Q3 of 2015 indicated strong financial and operational performance by the company. This performance was a reflection of the company’s continuous keenness to fully understand the requirements and desires of customers in a manner that positively reflected on the overall results.

The results also showed an increase in the number of high-speed Internet subscribers compared to the same period in 2014, with 174,000 new customers, bringing the company’s market share to 71.9% of the total high-speed Internet market. This reflects the growing demand for data services. It also shows the growing youth base in the Egyptian market.

TE had decided to develop its infrastructure and focus mainly on the modernisation of its network to become a cornerstone for the provision of mobile services. It highlighted that its clients are the focus of their attention and that operating in the entire mobile market, and acquiring the licence to provide fourth generation services are top priorities in the company’s strategy.

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