Cairo – Mubasher: Telecom Egypt on Monday reported an 18% year-on-year surge in consolidated profits for the full-year 2017.

Net profit amounted to EGP 3.2 billion last year, compared to EGP 2.7 in 2016, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).

The state-owned landline operator's revenues rose 33% to 18.5 billion in 2017 from EGP 13.9 billion a year earlier.

Standalone profits fell to EGP 558.3 million last year, against EGP 3.39 billion in 2016.