February 22, 2018 / 6:26 AM / in 9 months

VEON Q4 core profit falls nearly 4 pct, hurt by Uzbek currency devaluation

AMSTERDAM, Feb 22 (Reuters) - Mobile telecommunications company Veon said on Thursday its fourth-quarter core profit fell nearly 4 percent to $753 million, mainly due to the devaluation of the Uzbek som.

Veon, formerly known as Vimpelcom, said its 2018 performance will continue to be impacted by “the currency liberalization and a number of strategic transactions.”

“We expect flat-to-low single-digit organic growth for both group revenue and EBITDA,” it said. (Reporting by Anthony Deutsch; Editing by Subhranshu Sahu)

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