AlembicHC

Mobile and Telecoms

Egypt’s Mobinil net profit to drop 80 percent

Staff Writer - August 1, 2011

AlembicHC has slashed the price target on shares for Egypt’s Mobinil by 21 percent to 103 Egyptian pounds. It comes after reports of lower margins and higher leverage, non-cash charges and taxes. "We expect 2011 net profit to drop 80...

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