Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Telecom Egypt has approved cash dividends of EGP 2.56 billion for 2024, distributing EGP 1.50 per share. The company reported consolidated net profits of EGP 10.10 billion, with standalone net profits of EGP 2.78 billion for the same year.
Tecom Group shareholders have approved the FY 2024 financial statements and a cash dividend of AED400 million ($109 million) for the second half of 2024. The company reported an 11% YoY revenue increase, reaching AED2.4 billion, alongside a 14% rise in net profits to AED1.2 billion.
Telecom Egypt reported a 45% YoY revenue increase for FY 2024, reaching EGP 82 billion. Data revenue growth, a surge in IDD revenue, and a strong customer base drove the results. The company expects continued robust performance in 2025, supported by a solid financial position and integrated services.
Telecom Egypt will release its audited financial results for 2024 on February 27, 2025, before trading begins. The report, prepared in line with Egyptian Accounting Standards, will provide insights into the company’s performance, reinforcing its role as a leading player in Egypt’s telecom sector and its strategic investments in Vodafone Egypt.
Dialog Axiata PLC reported its earnings for Q3 and the nine months ending September 30, 2024. Q3 sales decreased to LKR 42.83 billion, while net income rose to LKR 4.50 billion. For the nine months, sales were LKR 125.38 billion, with net income dropping to LKR 5.69 billion.
Beyon, Bahrain’s telecom giant, reports a 1% rise in net profit to BD56.2 million and a 6% revenue increase in the first nine months of 2024. Comprehensive income surged by 22%, driven by favorable investment gains. EBITDA margin remained steady at 40% amidst consistent growth.
Arabian Internet and Communications Services Company (solutions) reported SAR 1.27 billion in revenues for the first nine months of 2024, a 23.30% increase year-on-year. Q3 net profits surged 19.63% to SAR 463 million, although revenues slightly declined to SAR 2.75 billion compared to the previous year.
stc has reported strong financial results for the first nine months of 2024, with revenues reaching KD 261.8 million, driven by consumer sector growth. The company continues to lead in digital transformation and innovation within Kuwait’s telecommunications market.