EARNINGS WATCH- Orascom Telecom Media and Technology Holding

EARNINGS WATCH- Orascom Telecom Media and Technology Holding (OTMT) reported a 7x increase in net profit for 1Q2017, which came in at EGP 388.5 mn, up from EGP 48.7 mn in 1Q2016, according to the company’s consolidated financial statements (pdf). The growth in bottom line is likely owed to revenues growing nearly three-fold to EGP 297.3 mn in 1Q2017 from EGP 110.8 mn in the same quarter last year.