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Telecom Egypt reports $535m profit

A picture taken on October 31, 2017 shows an advertising billboard in Cairo for "WE" a new mobile service from Egypt's state-owned company Telecom Egypt.
By TRENDS Desk
March 4, 2022 10:05 pm
  • The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds
  • The Egypt-based company also contributes to national digitization projects

Telecom Egypt has posted a net profit of $535 million for 2021, a seventy four percent jump compared to the previous year.

The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds.

“Our remarkable performance is credited to our unique and valuable product offerings that cater to all customer segments, our internal system upgrades, and our ability to capitalize on our distinctive infrastructure that spans both Egypt and the region,” Chief Executive Officer, Adel Hamad, said.

The Egypt-based company is also contributing to national digitization projects, he added.

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