Back to the complete issue
Tuesday, 7 May 2019

Earnings Watch: Global Telecom 1Q profits rise 61.2% y-o-y

EARNINGS WATCH- EGX-listed Global Telecom Holding (GTH) reported a net profit of USD 51 mn in 1Q2019, up 61.2% y-o-y from USD 32 mn last year, the company said in a statement (pdf). Reported revenues fell 1.6% y-o-y to USD 688 mn, while organic revenues rose 12.8% y-o-y. Organic revenues only account for sales and output growth generated by the existing business, and excludes earnings from takeovers, disposals and mergers and acquisitions. CEO Vincenzo Nesci said the fall in reported revenues was due to “adverse currency movements” of the PKR against the USD. The growth of the company’s customer base was maintained through the quarter, with total customers reaching 107.3 mn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.