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KPN telecom reports 14 percent rise in Q3 profit

KPN telecom reports 14 percent rise in Q3 profit

Royal KPN NV, the largest Dutch telecommunications company, reported Tuesday a 14 percent rise in net profit for the third quarter as it cut costs and demand for its basic services was steady amid the downturn.
Net profit was ⁈llion ($593 million), up from ⁈llion in the same period a year ago. Sales fell 5 percent to ⁈illion, due to the disposal of a consulting arm that didn't make much money.
The company makes about two-thirds of its profits from the Dutch market, where it enjoys a dominant size as the former state telecommunications company, and one third from its international mobile operations _ notably E-Plus, the third-largest mobile provider in Germany.
CEO Ad Scheepbouwer said he expected to meet all financial targets including a dividend increase to ⁈er share next year, from ⁈n 2008.
He credited "a resilient performance in our Dutch...business, solid profitability at mobile international and an unchanged economic impact on our businesses" from the recession.
KPN cut 952 jobs in the quarter and now employs 34,550.


Updated : 2021-08-02 04:23 GMT+08:00