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Egypt’s Mobinil turns to profits in 2015

Egypt’s Mobinil turns to profits in 2015
Photo Credit: Arabianeye - Reuters
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Cairo – Mubasher: The Egyptian Co. for Mobile Services (Mobinil) said Thursday its unaudited consolidated financial results for the fiscal year 2015 showed EGP 10.4 million net profit, against EGP 399.7 million net loss a year earlier.

The company added it also swung to profits in unaudited standalone financial results for FY15, especially in the fourth quarter, against losses a year earlier.

FY15 gross profit reached EGP 8.4 billion, up 8% year-on-year from EGP 7.8 billion.