Nilesat profits fall
April 30, 2018
By Chris Forrester
Egypt’s 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.
Cairo-based Nilesat held its Annual General Meeting on April 28th and declared that it would be paying a $0.60 per share distribution to shareholders. The main beneficiary is Egypt’s government which via various state-backed investment companies owns 72.8 per cent of Nilesat.
Nilesat – together with its orbital partner Eutelsat – has a powerful position in terms of satellite TV distribution over the MENA region.