Egypt’s Orascom Telecom posts 2015 net loss of 3.6 bln Egyptian pounds

Whatapp News

CAIRO   – Egypt’s Orascom Telecom Media and Technology Holding reported a net loss of 3.6 billion Egyptian pounds ($405 million) in 2015 versus a net profit of 263.98 million pounds a year earlier, the firm’s financial statements, printed in local media on Thursday, showed.

OTMT’s operational revenues increased by 12.8 percent in 2015 to 291.420 million pounds, while its financial costs increased to 1.045 billion pounds from 339.635 million a year earlier.

($1 = 8.8799 Egyptian pounds)(Reuters)