Reporter PK

Orascom Telecom Profits Surge on One-Off Gains

Orascom Telecom Profits Surge on One-Off Gains

Egypt based Orascom Telecom has reported a 4.3 percent rise in its first-half revenues, reaching US$1.95 billion. However, net profit rocketed upwards to US$774.1 million compared to US$16.8 million a year ago – boosted by the one-off gains from the sale of its 50% stake in Orascom Telecom Tunisia for US$1.2 billion.

EBITDA reached US$ 913 million, an increase of 16% compared to the same period last year, demonstrating a solid performance across all the GSM subsidiaries.

The total subscriber base exceeded 105 million, an increase of 13% over the same period last year.

In Algeria, Djezzy subscribers grew 5% YoY despite the limitations that Djezzy has been encountering over the course of this year. In addition, post-paid and pre-paid promotions were launched within ARPT restrictions imposed upon all operators, as well as being necessarily restricted by the limitations imposed upon the network.

Pakistan’s Mobilink exceeded 33 million subscribers in H1 2011, increasing by almost 4% compared to the previous year, targeting new subscribers through location- based promotions, as well as a continuing focus on mobile number portability (MNP).

In Bangladesh, banglalink subscribers increased nearly 26% compared to the same period last year, as a result of a selective acquisition strategy in anticipation of the SIM tax reduction which became effective from June 9th, 2011.

Telecel Globe subscribers increased by 24% compared to the same period last year, as a result of successful efforts to contain competitive pressure in the markets and add to customer growth.

North Korea’s koryolink continued its strong subscriber growth strategy for 2011 by more than tripling its customers in comparison to June 30th 2010.

In Lebanon, subscribers steadily increased by almost 25% compared to the same period last year under the management contract of Alfa. In Egypt, subscribers of Mobinil increased 17% YoY despite intense competition levels.

WIND Mobile in Canada has surpassed 300,000 customers, growing 17% compared to Q1 2011.

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