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Btel’s profit down

Telco

Telecommunications company Business Telecom (BTel) saw its revenue rose sharply in H1. However its profit fell due to financial losses, an earnings report published yesterday shows.

The company’s revenue climbed by 69% to almost HUF 3 bln.  Figures were lifted by a HUF 806 mln increase in exports supported by sales of its targeted-ad product XPrime.

Although Btel’s operating profit rose 66% to HUF 762 mln, a HUF 599 mln financial loss caused after-tax profit to fall by 63% down to HUF 163 mln.

BTel is reported to have more than 100,000 retail and institutional clients.

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