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