CAIRO: Egypt s Orascom Telecom, one of the Middle East s biggest telecoms firms, reported a 1.4 percent increase in net profit to $601.8 million in the first nine months of 2006. The firm said in a statement net income for the first nine months of 2005 was $593.3 million. Net income attributable to equity holders of the parent company rose to $550 million, compared with $491 million a year earlier. Orascom Telecom said earnings before interest, tax, depreciation and amortization (EBITDA) rose to $1.4 billion from $1 billion in the first nine months of 2005. Total customers reached 46.5 million in September 2006 versus 25.5 million a year earlier, the statement said. The firm, chaired by Egyptian billionaire Naguib Sawiris, said its revenue increased by 35 percent in the same period to $3.2 billion, largely helped by Djezzy, its Algerian subsidiary. Djezzy continues to be the largest contributor with 35 percent of revenues, the statement said. Mobilink, the company s subsidiary and Pakistan s mobile phone market leader, contributed with 23 percent and added more than 3 million subscribers in one quarter. Orascom Telecom s Egyptian subsidiary MobiNil, one of Egypt s two mobile operators, contributed with 12 percent of the revenues, the statement added. The firm has mobile operations in Algeria, Pakistan, Egypt, Tunisia, Iraq, Bangladesh and Zimbabwe. The company s shares rose on Sunday ahead of the results by 1.5 percent to end at LE 330.
