Cairo – Mubasher: Global Telecom Holding (GTH) turned to profitability in the fourth quarter of 2015, the company’s financial results indicated.
The telecom company registered consolidated profits of $36.8 million, against $154 million losses for the year-ago period.
In 2015, the company’s consolidated profits reached $9.8 million, versus a net loss of $444.3 million in 2014.
Moreover, GTH recorded $2.37 billion standalone profits for 2015, against a loss of $695 million during 2014.
Financial results for the first nine months of FY15 earlier showed $27 million in net losses.
The stock rose on Monday by 7.2% to EGP 2.5, making a turnover of EGP 47 million.
