TDC continues with job cuts; predicts a profitable 2005

Denmark’s dominant wireline provider TDC said yesterday that it will continue its ongoing cost-cutting programme and plans to cull 630 employees this year. The announcement follows the release of its financial figures for 2004, revealing a net profit of DKK8.7 billion (EUR1.2 billion) for the year, compared to DKK1.7 billion (EUR228.5 million) in 2003. Revenues for the year were up 5.2% to DKK43.5 billion (EUR5.8 billion). The company said that the annual results exceeded its own estimates, and that it expects to remain profitable throughout 2005.