TP Group reports 2Q profit decline

31 Jul 2007

Telekomunikacja Polska (TP) has reported a 9% drop in second-quarter profit to PLN495 million (USD179 million) from PLN544 million a year earlier. Sales fell 2.9% to PLN4.51 billion. The former phone monopoly said sales will shrink by about 2.8% this year, versus the 1% decline forecast by the company in January. At the end of June TP reported 1.92 million broadband customers, up 506,000 year-on-year, while its wireless arm Orange reported 13.06 million subscribers, giving it a 33.4% share of the market.