GTS Novera reports 7% fall in first-half sales

2 Oct 2008

Czech alternative telecoms operator GTS Novera said its revenues in the first six months of this year declined 7% year-on-year to CZK2.65 billion (USD151.8 million) and pre-tax profits tumbled 16% to CZK385 million. Investments for the period under review climbed 2% to CZK242 million. Last year GTS Novera posted full year revenues of CZK5.8 billion and income of CZK17.7 million. According to a report from the Czech News Agency, the operator hopes to boost operating profit in 2009 by investing in its data networks and services. The company will also focus on the sale of more profitable data services, rather than on selling voice services. At its press conference GTS Novera unveiled its new CEO, Stuart Evers, who takes over from Milan Rusnak, as part of organisational changes stemming from the change of ownership at parent group GTS CE earlier this year. A consortium led by funds Columbia Capital, M/C Venture Partners and Innova Capital, completed the purchase of 100% of the group early in May.

Czech Republic