Albtelecom reports moderate revenue growth

17 Feb 2006

Albanian fixed line operator Albtelecom has announced a 3.7% increase in 2005 revenues to ALL13.3 billion (USD128 million). Operating expenses were ALL11.2 billion, leaving a gross profit of ALL2.1 billion (USD20.4 billion). In June 2005 a 76% stake in Albtelecom was sold to the Calik Enerji Telekom consortium, a joint venture between power utility Calik and Turk Telekom for EUR120 million. In October, however, the government ruled that the sale was not in the best interest of the country and was in fact contrary to legislation. As a result the sale was cancelled.

Albania, ALBtelecom