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Telenor 4Q profit almost quadruples

15 Feb 2007

Telenor has announced that net profit in the fourth quarter 2006 almost quadrupled on the back of strong subscriber growth from its subsidiaries in Ukraine and Bangladesh, as well as from a tax gain from its Danish operations. Net income for the three-month period climbed to NOK6.18 billion (USD1 billion), from NOK1.70 billion a year earlier, while revenues rose 30% to NOK24.54 billion. The company forecasts sales growth of around 20% in 2007, fuelled by its operations in Pakistan, Thailand, Malaysia, and Serbia. In the fourth quarter sales at the Ukrainian operation Kyivstar jumped 36% to NOK3.02 billion as it added 3.8 million clients in the last three months of the year. Malaysian unit Digi.Com increased revenues by 17%, while Bangladesh’s GrameenPhone rose 46%.

Norway, Telenor Group

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