Nilesat profits tumble
May 15, 2018
By Chris Forrester
Cairo-based Nilesat, which with its orbital partner Eutelsat, supplies around 1000 TV and radio channels over the Middle East, has seen its profits tumble for its first quarter-year trading.
In the three months to March 31st its net profit was $13.07 million, compared with $19.72 a year ago.
This is a more dramatic drop than in the whole of last year’s trading, when for the complete year Nilesat saw its 2017 net profits fall by some $5 million, from a 2016 position of $73,322,889 to $68,570,487 in the 12 months to December 31st 2017.