Orange turns into profitability in Q1-2018 with LE 15.9M

CAIRO – 26 April 2018: Orange Egypt for Telecommunications’ consolidated results turned into profitability in the first quarter of 2018, recording LE 15.94 million ($898,925), compared to a loss of LE 300.6 million during the same period of 2017.

The company’s financial indicators revealed that the consolidated revenues recorded LE 3.29 billion, compared to LE 3.06 billion in the same period of the previous year, with an increase of 7.44 percent.

As per standalone profit, the results also turned into profitability in Q1 of 2018 by LE 21.26 million, compared to a loss of LE 286.04 million in Q1 of 2017.

The company recorded a profit of LE 1.65 billion in 2017, compared to LE 2.55 billion in 2016, with a 35.5 percent increase.

Orange’s shares rose 2.93 percent by the end of Thursday’s session to reach LE 18.98 after gaining LE 0.54.

Orange operates within the Telecommunication Services sector focusing on Wireless Telecommunication Services. It has six subsidiaries operating across Egypt. It was established in March 1998.