Polkomtel profits drop by 9.9%

Poland’s largest cellco by subscribers, Polkomtel has seen revenues for the full year 2011 slump by 4.7%, falling to PLN7.312 billion (USD2.340 billion) from PLN7.673 billion in 2010. The company’s net profit fell even further, from PLN1.157 billion, to PLN1.042 billion (down 9.9%). Whilst income from services dropped, Polkomtel noted a 23.7% increase in revenues from handset sales, up to PLN163.5 million. Polkomtel offered no explanation for the falling revenues, but faces stiff opposition in the crowded sector, competing with five other cellcos; Orange Poland, T-Mobile Poland, P4, CenterNet and Aero2.