TP Group first quarter sales dip 2.7%

25 Apr 2007

TP Group has reported a larger than expected drop in its first quarter sales as a result of an increasingly competitive operating environment and regulatory changes. Turnover for the three months ended 31 March fell 2.7% to PLN4.44 billion (USD1.59 billion), while net profit rose 2.6% to PLN518 million thanks in part to lower debt financing costs. Revenues from the group’s wireless arm Orange grew by 7.4% in the first quarter to PLN1.86 billion, although its fixed-line business reported an 8.9% fall in turnover to PLN2.747 billion, as customers switched to alternative providers.

Poland, Orange Poland