MobiNil net profits fall 7.5 percent in 1Q02
The Egyptian Company for Mobile Services (MobiNil) posted net profits of 83.4 million Egyptian pounds ($18 million) in the first quarter of the year 2002, a 7.5 percent fall from the EP90.5 million reported in the corresponding period the previous year.
The company’s subscriber-base included 1.95 million customers at March-end 2002, up 4.8 percent from 1.86 million three months earlier. Some 19 percent of Mobinil’s subscribers were registered as post-paid, as opposed to 16 percent of the subscriber base at year-end 2001.
Mobinil’s total revenues dropped four percent. Revenues earned from Short Messaging Services (SMS) constituted four percent Mobinil’s revenues this quarter.
Operating since May 1998, Mobinil is currently the largest wireless service provider in the Middle East. The company’s network covers over 93 percent of Egypt’s populated areas with roaming agreements signed with over 75 international carriers.— (menareport.com)
© 2002 Mena Report (www.menareport.com)