TPSA to up CAPEX in Q4

25 Oct 2007

TPSA plans to substantially increase investment in the fourth quarter of 2007 to maintain its dominant market position amid growing competition, writes Thomson Financial citing the company’s chief financial officer Benoit Merel. The announcement came as TPSA revealed that in the nine months ended 30 September revenues fell by 2.5% to PLN13.59 billion (USD5.31 billion). Sales from its wireless subsidiary Orange Poland rose 6.2% in the nine months, almost offsetting an 8.2% decrease from the group’s fixed line operations. ‘Capital expenditure will increase substantially in the fourth quarter to maintain growth,’ Merel told a conference call.