OTE’s fourth-quar­ter core profit falls 1.4 pct

Kathimerini English - - Focus -

Greece’s big­gest tele­coms op­er­a­tor OTE yes­ter­day posted a 1.4 per­cent drop in fourth-quar­ter core profit, hurt by tough con­di­tions in Greece and Ro­ma­nia. OTE, the for­mer na­tional mo­nop­oly now 40 per­cent owned and man­aged by Ger­many’s Deutsche Telekom, has lost mar­ket share to smaller ri­vals in re­cent years, while Greek tax in­creases have also hit prof­its. But sig­nif­i­cant in­vest­ments in new high-speed VDSL broad­band ser­vices and a fast-grow­ing pay-TV busi­ness have helped the group win back fixed-line cus­tomers. Earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­za­tion came in at 343.7 mil­lion eu­ros in the fourth quar­ter, down from 348.5 mil­lion eu­ros a year ear­lier. A slug­gish econ­omy in Greece dented

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