ATHENS Feb 28 Greece's biggest telecoms company
OTE reported on Thursday surging profit in 2012,
helped by an asset sale, despite the country's recession.
Net profit stood at 476.4 million euros ($624.5 million)
from 119.7 million euros in the previous year, said the company
which is controlled by Germany's Deutsche Telekom.
This compares to an average 457.2 million euro analyst forecast
in a Reuters poll.
Stripping out one-off items, comparable net rose 16 percent
to 363.5 million euros, the company said.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) fell 7.8 percent to 1.53 billion euros, in line with
analysts' forecast. Sales also dropped in line with forecasts,
by 7.1 percent to 4.68 billion euros.
The company said it expected competition to sharpen this
year. OTE said on Wednesday it will pass paying a dividend for
the second year in a row, as it saves cash to repay debt and
cope with the country's recession.
($1 = 0.7628 euros)
(Reporting by Harry Papachristou)