Orascom Telecom reports 7% rise in 2008 full year net profits (Egypt)
www.WirelessFederation.com/news: Orascom Telecom, the Egypt based mobile operator, reports full year net profits of $431 million, a growth of 7% since 2007. Orascom Telecom’s net revenue stood at $5.33 billion rising by 13% since 2007. The operator posted a total subscriber base of 78 million, up by 11% from 2007-end.
The operator’s ARPU dropped in several markets driven by intense competition and regulatory pressures on interconnection fees.
According to the Chairman of OT, Naguib Sawiris, most of OT’s bussinesses achieved its profit targets whereas Pakistan saw a downfall. “In Pakistan the difficult political, economical and financial conditions combined with the dramatic devaluation of the Pakistani rupee have negatively impacted the strong performance of the rest of the group,” Sawiris said.
Mobilink, OT’s Pakistani operations, experienced a drop in key areas like revenue, earnings, ARPU and subscriber base.
