Spin-off hits Zon profits

3 Mar 2008

The Portuguese cable TV operator Zon Multimedia has seen a 31.2% drop in 2007 net profits to EUR48.9 million (USD66.9 million) due to costs related to its spin-off from Portugal Telecom (PT). Revenues for the full year were up 7.4% at EUR715.7 million, while EBITDA rose 4.3% to EUR220.2 million. Zon, which was formerly called PT Multimedia, was spun off from PT late last year.

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