Cosmoté profits match analysts’ expectations

26 Aug 2005

Cosmoté, Greece’s dominant mobile operator, has posted a 9% rise in first half profit thanks to reduced taxes and continued strong subscriber growth. Net profit for the six months to 30 June 2005 was EUR158.6 million (193.2 million), in line with analyst expectations, on the back of a 5% rise in revenues to EUR791.2 million. Cosmoté, a subsidiary of fixed line incumbent OTE, added 148,569 new subscribers in the second quarter of the year, taking its customer base to 4.38 million. Blended average minutes of use (AMOU) during 1H05 increased by 7.1% year-on-year to 135, driven by the continuous growth in contract AMOU that was 25 minutes higher than a year ago.

Greece, Cosmote (old)