Egypt’s Global Telecom posts Q3 2015 net profit of $13 million

Global Telecom, the Egypt-based group formerly known as Orascom Telecom, reported Friday a $13 million net profit for the third-quarter of 2015 compared to a $157 million loss in the same period last year, it said in a statement.

The company, which is 51.9 percent owned by France’s VimpleCom , said its net loss attributable to shareholders in the quarter was $32 million versus a $161 million loss last year.

Minority interest increased due to the sale of a 51 percent stake in OTA in Algeria, the company said.

source: Reuters