Higher-than-expected profit for Cesky

30 Apr 2004

Cesky Telecom posted higher-than expected net profit of CZK1.4 billion (USD50.6 million) for the first quarter of 2004, up from CZK0.97 billion at the same time in 2003. Revenues stood at CZK15 billion, a rise of 18% in a year, while EBITDA grew by around 20% to CZK7.57 billion. The state-owned telco attributed the positive results to gains at its wireless unit Eurotel, which reported net profits of CZK2 billion, up by 22% year-on-year.