Telecom Egypt (ETEL) achieved a new historical high share price just one day before its earnings release announcement. ETEL reached an impressive EGP 40 per share, with trading at EGP 40 per share as of 12:42 on November 13th, 2023 (CLT). ETEL's year-to-date (YTD) performance stands at a remarkable +67.5%.
During the trading session, ETEL experienced a significant surge, with its shares increasing by more than 10%. This surge triggered a temporary trading suspension for 10 minutes between 12:28 and 12:30 CLT as per the exchange regulations.
ETEL has confirmed that its earnings release for the nine-month period ending in 2023 (9M23) will take place on November 14th, prior to the market opening on both the EGx and LSE exchanges.
In the first half of 2023, ETEL recorded a net profit of EGP 6.6 billion, reflecting a notable increase of +77% compared to EGP 3.7 billion in the same period of the previous year.
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