CAIRO: Mobinil, the largest mobile phone operator in Egypt by subscribers, reported an 18 percent decline in net income in the second quarter of 2008 on Sunday to LE 425 million ($80.2 million).
Mobinil said in a statement the number of subscribers rose to 17.5 million in June, a 47 percent increase on the same time last year.
It said earnings before interest, taxation, depreciation and amortization (EBITDA) rose 8.5 percent in the second quarter to LE 1.062 billion.
Investment bank EFG-Hermes had predicted Mobinil s second-quarter net income would fall to LE 394 million. HC Securities had forecast net income at LE 477 million. – Reuters
