Partner looks forward to 2010 on back of improved results in 4Q 2009

10 Feb 2010

Israeli cellco Partner Communications has released its financial results for the three- and twelve-month periods ended 31 December 2009, revealing a rise in fourth-quarter net profit, reversing the fortunes of its previous financial quarter, when it posted a significant decline in net income. In the final three months of 2009 Partner posted a 1.4% year-on-year increase in net profit to ILS294 million (USD78 million), having reported a 20.3% decline in net profit in July-September. Nonetheless, the improvement at the tail end of the year failed to turn full year fortunes around, and for the twelve months to end-December 2009 Partner posted a net profit of ILS1.1 billion, a 4.8% y-o-y drop compared to 2008. Similarly, while revenue in 4Q 2009 rose, up 1.6% to ILS1.6 billion, the operator’s FY2009 revenue fell 3.5% against 2008 to ILS6.1 billion. Commenting on the annual results, Partner CEO David Avner said: ‘I am satisfied with Partner’s financial and operational results for the fourth quarter and year 2009. I am also encouraged by the early signs for improvement in the business environment. Our results demonstrate the ability to simultaneously deliver strong financial results together with investment in our platform for future growth.’

Israel, Partner Communications Company