Sonatel 2011 net income drops 16% as tax exemption changes bite

Senegalese telecommunications group Sonatel has published its full year financial results for 2011 showing that EBITDA climbed 3% year-on-year to XOF334.91 billion (USD668 million) and revenue rose 6.5% to XOF635.36 billion. However, FY11 net profit dropped 16% in the same period to XOF154.37 billion, from XOF184.76 billion in FY10, following the removal of a corporate tax exemption it once enjoyed in Mali

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OVETEL Sonatel 2011 net income drops 16% as tax exemption changes bite