Czech incumbent Telefonica O2 CR, which is majority owned by Spain’s Telefonica, has reported net profit of CZK2.65 billion (USD129.2 million) for the three months ended 31 March 2009, up from CZK2.43 billion in the corresponding period of 2008, including a CZK811 million one-off gain from the sale of real estate assets. However, the figure fell short of analysts’ forecasts of net profit of CZK2.73 billion, in a poll conducted by Reuters. The group’s revenues for the period under review dipped 2% year-on-year to CZK15.13 billion, with fixed line turnover dropping 10% y-o-y to CZK2.1 billion in 1Q09 and mobile sales down 3% to CZK9.7 billion in the same period. Telefonica O2 CR had a total of 4.78 million active mobile subscribers at the end of March, a net gain of 0.6% on the same time a year earlier. Despite the poorer than expected performance, the company released no further guidance on its full-year forecasts.