News From Telecom World

Orascom Telecom Q3 profit down on Pakistan troubles

Posted on: November 19, 2008

Orascom Telecom ORTE.CA(ORTEq.L: Quote, Profile, Research), the largest Arab mobile operator by subscribers, said it made net profit of $90.5 million in the third quarter of 2008, 28 percent down on the same period of 2007 as revenues from its Pakistan operation suffered.

The profit figure was below a $102 million forecast from Cairo investment bank CI Capital. OT did not give a comparative figure but its third-quarter 2007 profit was $125.6 million.

“Most of our businesses, with the exception of Pakistan, continue to perform on target in terms of growth and profitability,” chairman Naguib Sawiris said in a statement. “In Pakistan the political, security, financial and economic conditions have been very difficult.”

Average revenue per user for Mobilink, its Pakistan subsidiary, dropped 26 percent, hit by the depreciation of the Pakistan rupee against the dollar, the company said.

The company said its revenue for the third quarter was $1.37 billion. It did not give a comparative figure for last year.

Total subscribers reached 79 million by the end of September, up 22 percent from the previous year, the company said.

Source: Reuters

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


  • None
  • shah: i want make business.so need talk to you. regurds
  • yaseen vohra: salam iam producer&director other tv sir i have new program idea tv shwo sub kahdo 4 zong u r intrust tu plz e mail me ya call this
  • md. arfan hossain (hitlar): i want to start the voip business in bd from chittgong . now i don't know how to start that. could you give me some suggestion for doing that?
%d bloggers like this: