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MobiNil Posts 71% Growth in 1H05 Net Profit

14-08-2005


MobiNil has issued its 1H05 results in which net profit increased to LE677.3Mn from LE396.5Mn for 1H04, a 71% increase. 2Q05 net profits reached LE421.3Mn compared to LE256Mn for 1Q05.

Excerpt from the press release:

Cairo: August 14, 2005 | The Egyptian Company for Mobile Services “mobinil” announced results for the first half of 2005 showing positive improvements on the revenue, EBITDA, and net income sides, while maintaining the accelerated subscriber growth strategy. During the first six months of operations, mobinil achieved annual growth of 57% in active subscribers reaching 5.165 million. Net active additions increased by 281% compared to H1 2004 reaching 1.150 million active subscribers mainly driven by ALO Magic. Revenues increased by 23% YoY reaching 2,554 MEGP. EBITDA margin remains solid at 51.8%, and net income reaches 677 MEGP, an increase of 71% YoY.

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