TP Group reports 2Q results

30 Jul 2008

Telekomunikacja Polska (TP) has reported that second quarter consolidated net profit rose by 41% from a year ago on higher revenues and lower operational costs. Group net profit for the three months ended 30 June 2008 rose to PLN698 million (USD339.2 million) from PLN495 million in the year-earlier period. The company reported revenues of PLN4.52 billion, up 0.3% from a year ago, and a touch above analysts’ average forecasts of PLN4.51 billion.

Operationally, at the end of June 2008 the company had 9.17 million fixed lines in service, down from 9.54 million at the start of the year. Broadband subscribers rose to 2.33 million (2.15 million), of which 244,000 used bitstream access (132,000). In the wireless arena, Orange Poland reported 13.9 million customers, down from 14.15 million six months earlier, of which 8.09 million were connected to pre-paid packages. 3G users totalled 297,000 at the end of June (up from 223,000 at end-2007), while the number of mobile broadband enabled devices stood at 3.83 million.