Latvian telecoms group Lattelecom has confirmed that it will rebrand under the ‘Tet’ name, previously used by the company’s energy division, from 1 April this year. The plan, which was first unveiled in October last year, will see the company divide its business into two main divisions, Tet – comprising energy, telecommunications, and technology services – and entertainment brand ‘Helio’ – consisting of the operator’s various TV services. Tet’s offerings will be broken down further into three divisions: ‘Home,’ comprising energy, broadband, telephony and smart home solutions; ‘Digital Workplace,’ which covers devices, internet access, data storage, software, IT security and process digitisation solutions; and Data-Based Customer Communications, which will focus on data collection and applications as well as areas such as personalised advertising.
Lattelecom also announced that it had generated turnover of EUR212 million (USD242 million) during the twelve months to 31 December 2018, an increase of 8% year-on-year. The telco noted that it paid EUR46 million in taxes and invested EUR27 million in services development during 2018. Net profit for the year, meanwhile, stood at EUR42 million.