Cairo – Mubasher: Orascom Telecom Media and Technology Holding (OTMT) on Monday reported a 48% year-on-year decline in consolidated profits for the full-year 2017, recording EGP 464.9 million from EGP 897.5 million.
Revenues from operations grew to EGP 1.5 billion last year, versus EGP 538.3 million in 2016, the company said in a filing to the Egyptian Exchange (EGX).
Meanwhile, standalone profits dropped 44% year-on-year in 2017 to EGP 606.14 million from EGP 1.08 billion.
Income grew to EGP 765.9 million last year from EGP 68.12 million in 2016.
It is worth noting that OTMT had previously posted it turned profitable during the first nine months of 2017 with around EGP 296.7 million in net profit, against losses of EGP 59.9 million in the same period a year earlier.
