MT’s Q2 net income rises on internet gains

Hungarian incumbent Magyar Telekom (MT), backed by Deutsche Telekom, recorded a 2% year-on-year rise in net profits to HUF18.3 billion (USD102 million) for the three months to end-June, driven by its internet unit and the purchase of IT firm KFKI, which helped offset an increase on corporate taxes. Revenues were also up 2.8% at HUF167.3 billion as MT continued to focus on increasing the contribution of non-voice revenues to counteract stagnation from core fixed voice sales. Fixed line revenues dropped 1.6% in the quarter to HUF77.1 billion when compared with the corresponding period a year ago, while internet sales climbed 19% to HUF14.6 billion.