Netia cuts 2007 net loss by 30%

28 Feb 2008

Polish telco Netia reduced its annual net loss by almost 30% to PLN269.5 million (USD115.1 million) in 2007, and is expecting to return to net profit no later than 2011. Netia’s revenues for the twelve months ended 31 December 2007 fell 3% year-on-year to PLN838 million. The company plans this year’s sales to be no lower than PLN950 million, as its mid-term strategy targets the group’s revenues to come in 14%-19% higher than last year in 2008-2010.

Poland, Netia