Telenor reports third-quarter profit leap

AFP
AFP - [email protected] • 24 Oct, 2012 Updated Wed 24 Oct 2012 09:02 CEST

Norwegian telecom operator Telenor reported on Wednesday a 41-percent leap in third-quarter net profit to 3.65 billion kroner ($638 million), higher than analysts had expected.

But the firm lowered slightly its sales forecast for 2012, forecasting an increase of "around 4.0 percent" compared to "more than 4.0 percent," announced previously.

Third-quarter sales stood at 25.25 billion kroner, for an increase of 3.0 percent.

Net profit rose by 41.0 percent from 2.59 billion kroner 12 months ago, and were higher than the 3.42 billion kroner forecast by analysts polled by Dow Jones Newswires.

The increased profits were a result partly of an improvement in the group's operational earnings in Serbia, Sweden and Thailand.

They also reflected contributions from associated companies, such as Russian mobile phone operator Vimpelcom, in which Telenor has a 43.0-percent stake.

As happened to Google last week, Telenor's third-quarter results were released accidentally late on Tuesday after the stock market closed, or half a day before the planned time.

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AFP 2012/10/24 09:02

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