Magyar Telekom 9months net income down to Ft59.4 billion

Food

Hungarian incumbent fixed line operator Magyar Telekom (MT) reported a 1.5% fall in net profit to Ft 59.4 billion ($343.7 million) in the first nine months of the year, but beat market expectations thanks to stronger than expected sales.

Revenues were up 2.7% at Ft 503.6 billion driven by mobile and in particular data, which more than offset declines at the group’s fixed line voice services business. T-Com Hungary posted a 4.3% decline in revenue in the first nine months of the year to Ft 60.9 billion. Sales of mobile services were down marginally by 1.1% to Ft 72.4 billion after regulator imposed cuts in mobile fees resulted in a 4.8% fall in average revenue per user (ARPU). Meanwhile, Magyar Telekom’s international mobile operations in Macedonia and Montenegro continued to perform strongly with the latter posting 37.5% revenue growth thanks to rising tourist numbers, higher international traffic and increased mobile termination rates. (telegeography)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Gastronomy