Telenet posts stronger-than-expected Q1 core profit

BRUSSELS, April 28 Mon Apr 28, 2014 1:21am EDT

BRUSSELS, April 28 (Reuters) - Belgian cable operator Telenet Group Holding NV posted a better-than-expected core profit in the first quarter as it managed to keep costs low and sell consumers mobile phone contracts without a free or discounted phone.

Core profit rose 18 percent in the first quarter to 237.8 million euros ($329.1 million), above the 216 million expected in a Reuters poll of five analysts.

In spite of the strong result in the first quarter, Telenet kept its outlook for core profit (EBITDA) to grow by 5 to 6 percent over the course of the year, with revenues rising 6 to 7 percent. ($1 = 0.7227 Euros) (Reporting by Robert-Jan Bartunek; Editing by Anand Basu)

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