Cairo - Mubasher: Egypt- South Africa for Communication (Egysacom) said it expects to achieve profits of nearly EGP 1.5 million for 2016.

Egysacom has contracted with Huawei in the thid quarter of 2015, to expand its client’s base.

Meanwhile, the company assured that its deal with Vodafone Egypt would boost its revenues in 2015.

Earlier, Egysacom announced that it has renewed its contract with Vodafone Egypt, for one more year, in respect to installing and maintaining networks.

Egysacom attributed its earnings' decline in the third quarter of 2015, to the Egypt's deteriorating economic conditions that hindered the investors from injecting more investments in the field of establishing and expanding the networks.

The company reported net profits of EGP 343,800 in the first nine months of 2015, compared with EGP 2.57 million a year earlier.