Cairo – Mubasher: The standalone financial indicators of Orange Egypt for Telecommunications on Tuesday showed a 4,415% year-on-year hike in losses for the first seven months of 2017.

The telecommunication firm’s losses stood at EGP 1.44 billion in the seven months ended July 2017, versus losses of EGP 31.9 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX).

Sales increased to EGP 6.79 billion during the first seven months, compared to EGP 6.45 billion in the corresponding period last year.

Orange Egypt's standalone financial indicators showed turning to losses in the first half of 2017 by EGP 1.013 billion from profits of EGP 33.25 million in H1-16.