Cairo – Mubasher: The financial indicators of Orange Egypt for Telecommunication showed a 77% year-on-year drop in consolidated losses during the first half of 2018, helped by sales growth.

The telecom firm has suffered losses of EGP 252.5 million in the six-month period ended June, versus EGP 1.1 billion in the prior-year period, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Sales increased to EPG 6.6 billion in H1-18, compared to sales of EGP 6.12 billion in the corresponding period of 2017.

At the level of standalone business, losses retreated 74% year-on-year to EGP 264.2 million, from EGP 1.012 billion in H1-17.

Orange Egypt previously reported an EGP 15.9 million in consolidated profits in the three-month ended March, against losses of EGP 300.6 million in the prior-year period.