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Telefonica 9-mth net profit down 9 pct
November 8, 2013 / 6:50 AM / 4 years ago

Telefonica 9-mth net profit down 9 pct

MADRID, Nov 8 (Reuters) - Spanish telecom group Telefonica posted a 9 percent drop in 9-month net profit on Friday, slightly beating analysts’ forecasts, hit by the weakness of its home market and declining Latin American currencies.

Telefonica, which this week reached a deal to sell its Czech unit, paid its first dividend in 18 months and opened the door to raising its investment in Telecom Italia, said net profit reached 3.145 billion euros ($4.2 billion) versus a Reuters poll for 2.997 billion euros.

Revenues also fell 8.4 percent to 42.626 billion euros while net debt stood at 46.101 billion euros at end-September, meeting the company’s year-end target of a debt below 47 billion euros three months ahead of time. ($1 = 0.7472 euros) (Reporting by Julien Toyer; Editing by Sonya Dowsett)

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