Cypriot telco's annual results not particularly a-meze-ing

11 Jul 2011

Cyprus Telecommunications Authority (Cyta), the Republic’s incumbent telco, saw a slight increase in turnover in the full year ended 31 December 2010, its chairman Stathis Kittis has announced. Annual revenues at the fixed, mobile and broadband operator reached EUR466 million (USD664 million) compared to EUR463 million the previous year. Operating costs also saw a small year-on-year increase of EUR2 million, reaching EUR391 million in 2010, while the chairman also reported surplus after tax of EUR69 million, a EUR2.5 million increase compared to 2009. Kittis added that Cyta’s programme of fixed broadband rollouts was progressing satisfactorily, and that ‘all residential areas’ in the country would have access to high speed internet services by the end of 2011.

Cyprus, Cyprus Telecommunications Authority (Cyta)