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Currency difference enhances Etisalat Misr’s revenue growth in Q2 2017 - Daily News Egypt

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Currency difference enhances Etisalat Misr’s revenue growth in Q2 2017

6% decline in the group’s net profits


The revenues of Etisalat Misr have increased during the second quarter (Q2) of 2017, achieving AED 568m, an equivalent of EGP 2.7bn.

On the other hand, the revenues of the company in dirhams have declined during the same period by 46% if compared to the same period in 2016. The company’s unit in Egypt contributes by 4% to the total revenues of the group.

On the other hand, the aggregated business results of the company have shown a decline in capital expenses during Q2 2017, reaching AED 143m (EGP 700.7m), compared to AED 229m during Q1 2017 (EGP 1.1bn).

The number of subscribers in Etisalat Misr reached 24 million by the end of Q2 2017, out of a total of 100 million subscribers of mobile services in Egypt.

According to the financial results of Etisalat, total revenues during Q2 of this year reached AED 12.8bn with 3% compared to Q1 of the same year. Total revenues of the first half (H1) of this year reached AED 25.2bn, a 3% decline compared to the same period of 2016.

Total profits of the group grew to reach AED 6.6bn in Q2 2017, with a 4% growth compared to Q1 2017, while total profits of the group reached AED 12.9bn during H1 2017, with a 2% decline compared to the same period of 2016.

Net profits of the group have declined by 6% during Q2 of this year, compared to Q1 2017, when total profits of the group reached AED 1.97bn. Total net profits during H1 2017 reached AED 4.06bn, with a 6% decline compared to H1 2016.

Topics: Etisalat Misr
https://www.dailynewsegypt.com/2017/08/01/currency-difference-enhances-etisalat-misrs-revenue-growth-q2-2017/
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