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Orascom profit plunges 64%
- Egypt: Wednesday, September 03 - 2008 at 07:44
Orascom Telecom has reported that its net income in the second quarter dropped 64% to $80.8 million, compared with the first quarter of the year, as growth in Pakistan and Bangladesh slowed and financing costs rose, reported Reuters. The earnings were lower than expected for the No.1 Arab mobile phone operator by subscribers was the company's first quarterly profit decline since 2007.
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Jeff Florian, Senior ReporterWednesday, September 03 - 2008 at 07:44 UAE local time (GMT+4)
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