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Polish Orange unit beats market f'casts with Q1 net growth
April 25, 2014 / 5:10 AM / in 4 years

Polish Orange unit beats market f'casts with Q1 net growth

WARSAW, April 25 (Reuters) - Poland’s largest telecom operator Orange Polska more than tripled its net profit in the first quarter of this year and beat market expectations thanks to a one-off boost from the sale of its web unit, it said on Friday.

The French Orange unit showed a bottom line of 271 million zlotys ($89.2 million), boosted by around 180 million zlotys from the sale of Poland’s No.2 web portal. Analysts had pegged the net profit at 223 million.

The group’s revenue dipped by a larger-than-expected 8.3 percent year-on-year to 2.995 billion zlotys in the first three months of the year, with market competition still pressuring the former communist monopoly. ($1 = 3.0377 Polish Zlotys) (Reporting by Adrian Krajewski; Edited by Marcin Goclowski)

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