Orascom Telecom Posts Q4 Net Loss

Egypt's Orascom Telecom

reported a net loss in the fourth quarter. Orascom Telecom posted a quarterly loss of $468.9 million, versus a year-ago loss of $123.5 million. The company also posted a loss of $205.76 million in the full year, versus a year-ago profit of $660.35 million. Orascom Telecom's quarterly revenue rose to $908.34 million, from 895.71 million. Its earnings before interest, tax, depreciation and amortisation climbed 23% to $425.50 million. Its subscriber numbers increased 8.7% to 84.92 million in the quarter. Orascom Telecom shares closed at $3.08 yesterday.