Reuters: Telecom Egypt earned a second-quarter profit after tax of 378 million Egyptian pounds ($48.28 million), up 55 percent from 243 million a year earlier, the country’s landline monopoly said in a statement on Monday.
Earnings advanced despite revenue falling to 3.025 billion pounds from 3.868 billion, it said, as non-recurring revenue bolstered its year-ago performance.
The board of the state-owned company appointed a new chairman and chief executive officer in May amid questions over whether the company would pursue mobile services to compete against Vodafone Egypt, Etisalat and Mobinil .
The telecoms minister said in July that the firm, in which the Egyptian government owns an 80 percent stake, is expected to acquire a 4G mobile licence in 2016.