Telecom Egypt reported consolidated net profits after tax of EGP 8.42 billion in 2021, a surge of nearly 74% year-on-year (YoY) from EGP 4.85 billion, including minority shareholders’ rights.
Earnings per share went up to EGP 4.34 in 2021 from EGP 2.31 in 2020.
The revenues grew to EGP 37.08 billion last year, compared to EGP 31.91 billion in 2020, according to a bourse disclosure on Thursday.
Telecom Egypt’s standalone net profits hiked to EGP 6.95 billion in 2021 from EGP 2.15 billion in the prior year.
Earnings per share increased to EGP 3.66 last year from EGP 0.87 in 2020.
Standalone revenues soared to EGP 27.78 billion during January-December 2021 from EGP 24.59 billion in the corresponding period a year earlier.
Meanwhile, the telecom operator’s board has recommended a cash dividend of EGP 1 per share for 2021, an annual increase of 33% from EGP 0.75 a year ago.
It is worth noting that in the first nine months (9M) of 2021, the company’s consolidated net profits stood at EGP 6.10 billion, a leap of 72.5% compared to EGP 3.53 billion in the same period of 2020.
