Cyta sees 2005 profits fall as fixed line and mobile revenues go flat

13 Jul 2006

Cyta, Cyprus’ state-owned fixed line and mobile operator, reported a sharp decline in net profits in 2005 to CYP18.31 million (USD40.7 million), compared to CYP30.8 million in 2004 due to rising operational costs and an increase in contributions to staff provident funds. Total revenue was down slightly at CYP230.45 million, compared to CYP231.60 the year before. Fixed line turnover stood at CYP81.8 million, down from CYP83.3 million, whilst sales at mobile arm Cytamobile dropped from CYP113.5 million in 2004 to CYP108.7 million. Revenues from other services were CYP39.8 million, up from CYP34.6 million a year before.

Cyprus, Cyprus Telecommunications Authority (Cyta)