Global Telecom's profits surge to $26M in 1st half of 2019

CAIRO – 1 August 2018: Global Telecom Holding's consolidated profits surged to hit $26 million during the first half of 2019, up from $100,000 during the same half of 2018.

The company's financial indicators revealed that consolidated revenues recorded $1.338 billion, compared to $1.39 billion during the comparable half of 2018.

During the second quarter of 2019, Global Telecom recorded loss of $28.3 million, compared to loss of $31.7 million during the same quarter of 2018.

As per standalone results during the first half of 2019, the company turned into loss by $216.8 million, compared to profits of $413.1 million during the same half of 2018.

Global telecom lost $250 million in 20184, compared to a loss of $79 million in 2017.

Global Telecom operates within the telecommunication services sector, focusing on wireless telecommunication services.

It has 116 subsidiaries operating across Southern and Central Asia, North America, British Islands, Western Europe, Northern Africa, Eastern Africa, Middle East and Southern Europe.