Cairo – Mubasher: Telecom Egypt on Thursday said its consolidated profits rose slightly during the first nine months of 2018 as compared with the same period last year.

The telecom company recorded a net profit of EGP 3.51 billion in the nine-month period ended September, versus EGP 3.48 billion in the prior-year period, according to a filing to the Egyptian Exchange (EGX).

Revenue surged to EGP 17.35 billion at the end of September from EGP 13.12 billion in the year-ago period.

At the level of standalone business, the state-owned landline monopoly’s logged an EGP 2.04 billion in profits, up from EGP 1.6 billion in the January-September period of 2017.

Telecom Egypt previously posted a 4% year-on-year growth in consolidated profits for the second quarter of 2018, recording EGP 1.28 billion, compared with EGP 1.23 billion for Q2-17.

In the first half of 2018, the company’s net profit fell 18.2% to EGP 2.06 billion, from EGP 2.52 billion in H1-17.