French telecom operator Orange profit has increased more than 50% over the past year, supported by strong momentum in the Middle East and Africa.
According to the results of Orange’s business released on Thursday, the company's revenues increased by 1.1% on an annual basis, during the three months to December, to reach 11.09 billion euros.
On the overall level of 2019, the company achieved net profits of 3.01 billion euros ($ 3.28 billion) during 2019, an increase of 50 percent over the previous year when it recorded profits of 1.95 billion euros.
"Orange" revenue last year was 42.24 billion euros, compared to 41.99 billion euros in the previous year.
The telecom company explained that its performance was driven by a strong momentum in the Africa and the Middle East unit, which recorded a growth of about 6.2 percent, in addition to strong business results in Europe.
Profits before interest, taxes, depreciation and amortization amounted to 12.86 billion euros in 2019.
The company confirmed that it would propose a pidend of € 0.70 per share for the year 2020
According to latest estimates, Orange has about 33.5 million active subscribers from almost 101,27 million mobile subscribers in Egypt. The French multinational company serves 266 million customers worldwide and employs about 89,000 people in France, and 59,000 elsewhere.
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