Cairo – Mubasher: Telecom Egypt is looking to raise its revenue by a medium single-digit to a medium double-digit percentage in 2019 following the neutral impact of the MENA Submarine Cable’s transaction.
Egypt's largest internet provider is targeting a growth above 20% in earnings before interest, taxes, depreciation, and amortisation (EBITDA), according to a statement to the Egyptian Exchange (EGX) on Monday.
The Egyptian telecom firm is seeking an expenditure rate of around 30% out of total revenues, the statement added.
Telecom Egypt previously reported it recorded a net profit of EGP 3.51 billion in the nine-month period ended September, versus EGP 3.48 billion in the prior-year period.
Revenue surged to EGP 17.35 billion at the end of September from EGP 13.12 billion in the year-ago period.
