Tele2 profits drop sharply
Sweden’s Tele2 reported on Tuesday morning a sharp drop in profits for the second quarter 2006.
The company’s pre-tax profit of 314 million kronor for the period was 68 percent below figures posted last year at this time. Analysts were expecting 326 million kronor. Shares were down in morning trading.
CEO Lars-Johan Jarnheimer said customer churn has stabilized, and while he expects the decline in total fixed telephony to continue, numbers in Sweden should improve in coming quarters.
Turnover growth in 2006 was reduced from an expected 16 percent to 11-14 percent. Better results are still expected for 2007.
Comments
See Also
The company’s pre-tax profit of 314 million kronor for the period was 68 percent below figures posted last year at this time. Analysts were expecting 326 million kronor. Shares were down in morning trading.
CEO Lars-Johan Jarnheimer said customer churn has stabilized, and while he expects the decline in total fixed telephony to continue, numbers in Sweden should improve in coming quarters.
Turnover growth in 2006 was reduced from an expected 16 percent to 11-14 percent. Better results are still expected for 2007.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.