Orange losses widen 23 times in Q1

Cairo – Mubasher: Orange Egypt for Telecommunications Company’s consolidated losses have worsened 2,343.9% to EGP 300.6 million in the first quarter of fiscal year 2017, compared to EGP 12.3 million in Q1-16.

However, revenues increased in Q1-17 to EGP 3.06 million from EGP 2.84 billion for Q1-16, according to a bourse filing released on Thursday.

The company’s standalone financial statements for the first three months of 2017 showed a net loss of EGP 286.04 million, against a net profit of EGP 21.7 million for Q1-16.

The stock rose on Wednesday by 7.53% to EGP 101.73.

Mubasher Contribution Time: 20-Apr-2017 08:22 (GMT)
Mubasher Last Update Time: 20-Apr-2017 08:51 (GMT)

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