TP reports 206% increase in net income

27 Jul 2011

Poland’s Telekomunikacja Polska (TP) has reported a jump in quarterly net income, despite falling revenues. Net income increased from PLN325 million (USD117.4 million) in the three months ended June 2010, to PLN995 million a year later, an increase of 206.2%. The leap in profits was due to the sale of Emitel to Montagu Private Equity, which added PLN1.7 billion to the company’s coffers. The revenues of the France Telecom subsidiary, however have seen a slight dip of 4.9% year-on-year, from PLN3.89 billion in 2Q10 down to PLN3.79 billion in 2Q11. The decline was entirely in the fixed line sector where turnover fell by 8.3%, whilst the mobile space grew by 0.9%. TP also attributed the fall to force majeure events in 2010 such as floods in Poland in May.

Poland, Orange Poland, Orange Poland (now Orange Polska)