BRUSSELS, July 30 Dutch telecoms group KPN
on Wednesday reported better-than-expected
second-quarter core profit as a cost cutting programme partially
made up for falling profitability in most units.
KPN said its "simplification programme" resulted in savings
on operating and capital expenses of about 75 million euros
($100.5 million) in the first half, with 350 employees leaving
The group announced in February that it would cut up to
2,000 jobs to stem falling profits.
Core profit fell 19 percent in the second quarter to 633
million euros, above the 626 million expected in a Reuters poll
of seven analysts.
The group repeated its outlook that it expected its
financial performance to stabilise towards the end of 2014 and
said it would invest less than 1.4 billion euros in 2014 and
less than 1.5 billion in 2015.
KPN added that, if the sale of its German unit E-Plus
closed, it would restart paying a dividend of 0.07 euros for the
2014 financial year.
($1 = 0.7460 Euros)
(Reporting by Robert-Jan Bartunek)