Cairo – Mubasher: Orascom Telecom Media and Technology Holding reported a 98.7% decrease in its losses for the third quarter of 2016, according to a bourse filing on Wednesday.
Q3 net consolidated losses thus reached EGP 46.77 million, compared with EGP 3.75 billion losses for the year-ago period.
Over the first nine months, losses narrowed 98.7% year-on-year to EGP 38.7 million from EGP 3.02 billion.
According to the standalone results, the company swung from profits into losses during the nine-month period after logging EGP 59.8 losses against EGP 271.07 profits for the first nine months of 2015.
Over the first half, the company registered EGP 8.04 million consolidated profits.
