CAIRO, Feb 23 (Reuters) - Landline monopoly Telecom
Egypt expects its revenues to be little changed in
2012 and aims to maintain profitability at a level similar to
last year as it continues a cost-cutting programme, its finance
chief said.
The company earlier reported a 6.8 percent decline in net
profit and a 3.2 percent drop in revenue last year when Egypt's
economy was thrown into turmoil by a popular uprising.
"We are still optimistic on 2012," CFO Hassan Helmy told
Reuters. "We expect flat revenue and to still maintain our
EBITDA margin within the mid-40s range and for capital
expenditure we will be spending 1-1.2 billion Egyptian pounds."
(Reporting by Tom Pfeiffer)
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