By Alaa Shahine
Cairo-based mobile phone firm says customers up 31% but net income down by 4%.
Regional mobile phone operator Orascom Telecom reported a four percent decline in net income for the first half of 2008 to $276 million.
The Cairo-based group said in a statement on Tuesday earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 22 percent to $1.16 billion. Orascom Telecom said revenues rose 19 percent to $2.652 billion.
Total subscribers exceeded 77 million, up 31 percent over June 2007 on a proforma basis, the group said.
It added that the number was calculated after excluding the subscribers of its former Iraqi subsidiary Iraqna in June 2007. (Reuters)For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.