Thursday, 22 August 2019 03:31 GMT
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Egypt's Global Telecom logs 13.4 percent loss in Q3




(MENAFN) Global Telecom Holding, the Egyptian International telecommunications company which operates GSM networks in the Middle East, Africa, Canada, and Asia recorded a staggering loss over July-Sep period.

The company registered a 13.4 percent loss hitting USD32 million in the three months to September compared to the previous second quarter, however; these numbers still shows improvements when compared to the previous year.

Yearly gross losses have enhanced due to the low cost of services, posting a 19.6 percent decrease for last year's third quarter, plus the figures also showed a decline in financial costs by 63.7 percent compared to 2014's cited quarter.

Furthermore, overall incomes touched USD730 million over the mentioned quarter, reflecting a 13 percent fall from last year's same period, mainly driven by the weak performance of Djezzy Company of Global Telecom Algeria.


Egypt's Global Telecom logs 13.4 percent loss in Q3

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