Mubasher: Pharos Research set the fair value (FV) of Orascom Telecom Media and Technology Holding (OTMT) at EGP 0.59 per share, with “Hold” recommendation, according to a recent report.

OTMT reported a net loss of EGP 40.7 million in Q2-16, excluding the effect of discontinued operations, compared to EGP 13.2 million in Q2-15.

Despite the Q2-16 losses, the company reported profits of EGP 8 million in H1-16 results, excluding discontinued operations.

“The key reason for the LBITDA is the higher personnel and other operating expenses, specifically from support functions on the holding company level that are not revenue generating,” according to a statement.

Revenue rose 56.3% year-on-year to EGP 102.5 million in Q2-16 and grew 64.9% to EGP 213.3 million in H1-16, due to the addition of revenue contributions from the real estate segment in Brazil and the financial segment represented by Beltone Financial.

Excluding the new additions, revenue recorded a healthy 17% y-o-y growth in H1-16, represented by the two sub marine cable segments.