Cairo – Mubasher: Global Telecom Holding posted on Sunday standalone net losses worth EGP 91.9 million for fiscal year 2016, versus standalone profits of EGP 2.37 million for FY15.
Standalone revenues increased in FY16 to EGP 11.2 million from EGP 3.183 million for FY15, according to a bourse filing.
The company’s ordinary general meeting (OGM) will discuss on 29 March transferring EGP 182.7 million from the general reserve to cover the losses, another statement said.
By 10:44am Cairo time, the stock rose 0.14% to EGP 6.95.
