Vodafone says Egypt Q1 revenues fall to €362 mln on currency devaluation

Mobile operator Vodafone Group has registered revenues in Egypt worth €362 million (3.5 billion Egyptian pounds) during the first quarter started in April and ended on June 30^th 2016.

According to a financial report released by Vodafone, revenues fell from €390 million in the last quarter of the financial year 2015-2016 to €360 million driven by the devaluation of the Egyptian Pound against foreign currencies.

The number of Vodafone subscribers in Egypt by the end of June reached 39 million who made calls of 30 billion minutes, exchanged 800 million text messages, and used 32.04 terabytes of internet.

Vodafone Egypt is 55 percent owned by Vodafone group, 45 percent owned by Telecom Egypt.