Sonofon to cut jobs following Q3 results

3 Nov 2003

Danish cellco Sonofon has reported slow profits for the third quarter of 2003, with revenues rising just 3% year-on-year to USD168 million. EBITDA reached USD49.5 million at the end of the period, up 4% on the previous year, while operating profit margin stood at 29%. The operator added 53,000 customers to its mobile network in the year, taking the total to 1.09 million. It has announced a cost cutting plan in the light of the slow growth, which will lead to around 80 job losses by the end of November.