BUDAPEST Nov 8 Hungarian group Magyar Telekom
said quarterly net profit rose 10.8 percent, helped by
one-off income from real estate transactions and as cost cuts
offset a fall in revenue.
Third-quarter net profit was 14.77 billion forints ($67
million), compared with a forecast for 11.73 billion in a survey
by financial news website portfolio.hu, the company said on
The Deutsche Telekom unit affirmed full-year
guidance for a 0-2 percent decline in revenue and a 4-6 percent
fall in underlying earnings before interest, taxes, depreciation
and amortisation (EBITDA).
Revenue for the first nine months was up 0.9 percent at 442
billion forints, while underlying EBITDA adjusted for special
costs fell 2.9 percent to 182 billion.
"In Macedonia, we completed an efficiency review of our real
estate assets, selling four of our existing buildings and
purchasing a single modern one, and the sale of our Pro-M
subsidiary also contributed to better EBITDA performance,"
chairman and chief executive Christopher Mattheisen said.
That resulted in a gain of 3.7 billion forints which, with
the benefit of cost cuts, helped offset the impact of a new tax
on phone calls and text messages Hungary launched in July.
Quarterly revenue fell 1.3 percent to 150 billion forints,
in line with expectations.
($1 = 221.67 forints)
(Reporting by Gergely Szakacs; Editing by Dan Lalor)