Cyta reveals annual financial growth, keeps broadband on track

8 Jul 2009

The national PSTN operator in Cyprus, Cyta, has presented its annual financial results for 2008, showing that consolidated turnover increased by 6.6% to EUR484 million (USD676 million), whilst EBITDA rose by 8.6% to EUR190 million. Net profit climbed 8.7% from EUR81 million in 2007 to EUR103 million in 2008. The full-service telco also said that it was sticking to its target of connecting all rural areas of Cyprus to broadband network services, with 202 communities hooked up to high speed services under the programme to date, with a further 95 to be connected during the remainder of 2009 and the remaining 63 communities earmarked to receive access in 2010.

Cyprus, Cyprus Telecommunications Authority (Cyta)