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Orascom Telecom Reports First-Quarter Net Loss
Published May 20, 2013
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Egyptian mobile phone operator Orascom Telecom Holding has reported a net loss in the first quarter of 2013, blaming foreign exchange losses and impairment of some assets. The firm made a net loss before minority interests of $204m for the quarter, compared with a net profit of $120.4m a year earlier. The loss was "mainly driven by the adverse impact of foreign exchange losses of $173m and the impairment of assets held for sale by $58m, as to reflect the fair value of our operations in CAR (Central African Republic) and Burundi," the company said.
Posted by
VMD - [Virtual Marketing Department]
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