BTC posts falling profits

17 Aug 2005

Bulgaria’s former telecoms monopoly, BTC, has posted a profit of BGN113.1 million (EUR58.4 million) for the first half of 2005, down 21% on the corresponding period of last year. Revenues fell slightly from BGN518.6 million in the first half of 2004 to BGN516.7 million in 1H 2005, whilst operating expenses rose by almost 13%. BTC is currently undergoing a restructuring programme to split its operations into four geographical regions in a bid to improve customer service. It had 2.9 million lines in service at the end of June.

Bulgaria, Vivacom (BTC)