Sign up for our newsletter
Technology / AI and automation

SHARES SLIP AS PTT NEDERLAND’S FIRST HALF WELL BEHIND FORECAST

The 70% state-owned Dutch post and telecommunications group Koninklijke PTT Nederland NV maintained its forecast for the year of a clear rise from 1994 despite disappointing with interim figures below most expectations. Net profits for the six months to June 30 were up 10% to the equivalent of $677.2m from turnover up 8% at $5,720.4m. Analysts’ forecasts began at $680m, rising to $705m. The shares dipped 1.40 guilders to stand at 56 guilders at the news. The company put the profit increase down to the rise in turnover and relatively limited increases in operating costs. Total telephony revenues were up 9% at $4,073m. International call revenues rose just 3% to $753.8m, reflecting price pressure, the company said. Mobile telephony revenues, however, saw the biggest rise of all, up 48% to $379.3m. This mainly reflected the expansion of the Groupe Speciale Mobile digital telephones, the company said. The headcount slipped 1,887 to 71,143 in the half and further job losses are expected in the second period. The interim 0.90 guilder per share dividend, was up from 0.80 guilders previously, and was expected.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.