Orange raises profit, cash flow targets on Africa growth

French telecoms group Orange raised its profit and cash-flow targets on Tuesday after strong growth in Africa and the Middle East helped offset weakness in its mature European markets.

Orange now expects its earnings before interest, taxes, depreciation and amortization ‌after leases (EBITDAaL) to ⁠grow more ⁠than 4% this year, instead of the previously expected over 3%. It had already lifted the outlook in April following a stronger-than-expected first quarter. It also raised its organic cash flow target to around 4.3 billion euros from around 4 billion euros.