Poll predicts massive drop in MT Q4 profits

A poll conducted by Hungarian online news portal Portfolio.hu is forecasting a massive 90% drop in fourth-quarter profits for the country’s incumbent telecom operator Magyar Telekom (MT), when it publishes its results on 14 February. Some analysts even estimate the chance of a net loss for the telco in the three months to 31 December, the online portal says, attributable to expenses stemming from the job cuts currently underway. The poll of ten analysts is also predicting revenues will drop 5% year-on-year – undermined by a one-off item of HUF10 billion (USD55 million) relating to its EDR-Tetra project – without which full year revenues are expected to be up around 4% on 2006.