Egypt's Mobinil fourth-quarter profit dips

CAIRO: Egyptian mobile firm Mobinil said on Sunday its net income in the fourth quarter of 2010 fell to 347.4 million Egyptian pounds ($59.1 million) from 558.9 million pounds in the same quarter a year earlier.

The firm said its revenues were about even at 2.8 billion pounds in the fourth quarter, and that its earnings before interest, taxes, depreciation and amortisation fell to 1.1 billion pounds.

Mobinil had 30.225 million mobile customers at the end of 2010, an increase of 19.2 percent year-on-year.