Orascom Telecom swings to Q3 profit
CAIRO Nov 14 (Reuters) - Egypt-based Orascom Telecom reported third-quarter net profit attributable to equity holders of $106 million, reversing a net loss of $1.5 million for the same period a year earlier, the firm said in a statement on Wednesday.
Orascom, which is controlled by Russia's Vimpelcom, said profits were mainly driven by foreign exchange gains.
Revenues for the quarter stood at $885 million, the firm said, while earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $425 million. Total subscribers exceeded 85 million, up 14 percent from a year earlier.
- Thousands of Gaza civilians flee after Israeli warning |
- Russia threatens Ukraine after shell crosses border
- Three dead, two wounded in Pasadena, California shootings
- Teen survivor of Texas shootings says slain family members 'in much better place'
- Heavy fighting breaks out near Libya's Tripoli airport, seven dead