Cairo – Mubasher: Telecom Egypt confirmed that it had not received any official offers regarding its stake in Vodafone Egypt.
This came in a statement in response to the Egyptian Stock Exchange’s inquiries regarding what was published under the title (Qatar Investment implements the acquisition of a stake in Vodafone Egypt within two months).
Telecom Egypt recorded a net profit of 3.81 billion pounds during the period from January to the end of March 2023, compared to 1.36 billion pounds in profits in the comparative quarter of 2022, taking into account minority rights.
The share of the holding company’s shareholders’ equity in profits during the period amounted to about 3.81 billion pounds, compared to 1.36 billion pounds during the same period last year.
While the non-controlling interests recorded profits of 363 million pounds during the three months, compared to 675 million pounds during the same quarter of last year.
The company’s consolidated revenues rose during the first three months of this year to 13.95 billion pounds, compared to 9.41 billion pounds in the comparative quarter of 2022.
With regard to the non-consolidated financial statements, the net profit of the independent company amounted to about 2.46 billion pounds in the first quarter of 2023, compared to 654.34 million pounds in the comparative quarter of 2022.
Telecom Egypt achieved a net profit after taxes during the past year amounting to 9.2 billion pounds, a growth rate of 9% compared to the previous year, supported by distinguished operational performance.
Total consolidated revenues amounted to 44.3 billion pounds, achieving a growth of 19% compared to the previous year. Driven by an increase in revenues from the retail business units and the wholesale business units (growing by 21% and 17%, respectively).
Data services revenues increased by 3.2 billion pounds, compared to the previous year, with the increase in other revenues, the enterprise business unit by 0.9 billion pounds, and cable revenues achieved the same increase compared to the previous year.
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