EuroTel returns boosted by tax break

5 Feb 2004

Czech mobile operator EuroTel has posted a 16% rise in net profits to CZK7.25 billion for 2003, helped by a tax break related to dividend payments. Without the extra income, it said net profit would have been CZK6.5 billion, a rise of just 3%. Total mobile service revenues rose 3% year-on-year to CZK27.6 billion, with EBITDA increasing from CZK13.7 billion to CZK14.2 billion. At the end of 2003 EuroTel had 4,215,000 customers, representing an annual rise of 323,000. At the same date its rivals T-Mobile and Cesky Mobile had four million and 1.55 million subscribers respectively.