Orange Egypt said net profit amounted to EGP 16 million for the first three months to 31 March, compared with a net loss of EGP 301 million in the same period of 2017. Revenues increased to EGP 3.29 billion from EGP 3.06 billion in 2017, reflecting growth of 7.44 percent. The gross margin amounted to EGP 2.52 billion versus EGP 2.32 billion in 2017, equal to growth of 8.52 percent.
Net operating profit more than doubled, to EGP 343 million compared with EGP 149 million in 2017. The mobile operator said the ambitious transformation plan allowed the company to boost its financial position, partially offsetting the negative impact of high inflation and the increase in fuel and electricity costs.
Source: https://www.telecompaper.com/news/orange-egypt-swings-to-net-profit-in-q1-revenues-rise-744--1242269