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Sunday, 1 December 2019

Orange Egypt to return to profitability this year -CEO

Orange Egypt will turn a profit in 2019 for the first time in several years as it increases revenue from data services, CEO Yasser Shaker said, according to Al Shorouk. Yasser declined to provide an exact figure for the company’s anticipated profits, but said at a presser the numbers are “very positive.” The company is projected to earn 50% of its revenue from data services next year, up from 25-30% in 2018, Shaker said. The company lost almost EGP 666 mn in 9M2018 — the last time the company reported earnings after delisting from the EGX.

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