Cairo - Mubasher: Pharos Research set its fair value (FV) for Telecom Egypt at EGP 11 per share with hold recommendation.
Earlier, Telecom Egypt reported an increase of 27.7% in net profits for the third quarter of 2016.
The telecom company registered EGP 869.5 million during the three months ended on 30 September, compared with EGP 1.2 billion profits for the prior-year period.
Over the first nine months of 2016, the company earned EGP 3.18 billion, higher 49.3% year-over-year from EGP 2.13 billion, the consolidated results showed.
Meanwhile, the standalone results indicated that net profits surged 649.9% year-on-year To EGP 3.2 billion from EGP 429.6 million.
