THE HAGUE (AFP) - Dutch telecommunications operator KPN announced third quarter net profit of 288 million euros (368 million dollars) more than double the 139 million euro profit they reported for the same period last year.
The results are largely due to lower operating expenses, lower interest expenses and a significant drop in tax charges, KPN said in a statement.
Even if the results for KPN's mobile division were strong this third quarter -- with a rise in market share in all three countries where KPN is operating, the Netherlands, Belgium and Germany -- the fixed division continues to lose ground with a 7.8 percent drop in sales to 149 million euros.
All in all KPN's sales saw a two percent drop to 2.94 billion euros and the operating result dropped 2.8 percent to 586 million euros. Analysts had expected a slightly higher operating result around 600 million euros.
KPN chairman As Scheepbouwer nonetheless told journalists during a press conference Monday the group had "a solid quarter," mainly in its mobile division.
He stood by the outlook for the full year that the group would report a profit before tax of around 1.7 billion euros.
11/01/2004 - 16:03 GMT - AFP