Orascom Telecom said its net profit for the third quarter ending 30 September jumped 130 percent from a year earlier to USD 951 million, helped by USD 822 million in gains from its new shareholders agreement at Mobinil. Excluding the gain, third-quarter net profit from continuing operations was USD 112 million, with Mobinil now accounted for through the equity method, rather than fully consolidated.
Orascom Telecom's subscriber base increased 16 percent over the same period last year, to reach more than 103.3 million customers, versus 99.1 million in June. Revenues for the first nine months of the year reached USD 3.1 billion, up 1.6 percent over the same period of 2009 as a result of strong growth in most GSM operations.
Modified From: www.telecompaper.com
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