Tougher competition hits Matav results

Matav has reported a 26% decline in net profit for the first quarter of 2004 as a result of falling revenues from its fixed and leased line operations. The company’s overall sales managed a 0.8% increase to HUF146.13 billion compared to the HUF144.93 billion achieved in 1Q 2003, thanks principally to a 5.8% increase in mobile sales and an 8.4% improvement in revenues from international operations. The number of ADSL customers climbed 181% in twelve months to 125,000 while its internet customer base jumped from 160,280 to 228,526.