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Telecom Egypt says Q3 net up 3 pct, beats consensus
November 12, 2012 / 7:40 AM / 5 years ago

Telecom Egypt says Q3 net up 3 pct, beats consensus

CAIRO, Nov 12 (Reuters) - Landline monopoly Telecom Egypt reported on Monday a 3 percent rise in its third-quarter net profit for 2012 to 633 million Egyptian pounds ($104 million), beating an average forecast of 625 million pounds based on seven analysts.

The company, banking on data services to offset lower fixed line income, posted a restated net profit for the third quarter of 2011 to 615 million pounds. The government has an 80 percent stake in the firm.

Last year, it had reported net profit of 622 million pounds for the third quarter of 2011.

$1 = 6.1155 Egyptian pounds Writing by Edmund Blair

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