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TeliaSonera: 3Q profit down 12 percent

TeliaSonera: 3Q profit down 12 percent

Nordic telecommunications operator TeliaSonera AB on Tuesday posted a 12 percent drop in third-quarter net profits as last year's figure was boosted by a one-time gain.
The Stockholm-based company noted the financial crisis has not had a direct impact on customer behavior and it kept its outlook for the year unchanged.
Net profit in the July-September period came to 4.8 billion kronor ($605 million), down from 5.4 billion in the same three months last year.
Although higher costs weighed on this year's results, the year-ago figure was also helped by a 631 million kronor ($80 million) capital gain from the sale of Elftel by TeliaSonera's associated company Telefos.
Sales in the quarter rose to 25.8 billion kronor ($3.2 billion), up 4 percent from 24.8 billion kronor in the year-ago period.
CEO Lars Nyberg described the results as "good," mainly thanks to strong performance in its Mobility Services unit and in Europe and Asia.
Of the global financial turmoil, Nyberg noted that "it is very difficult to project how long it will last," but reassured shareholders that his company has a strong balance sheet and that the industry in which it operates is fairly non-cyclical.
"We see no immediate effects of changing customer behavior in our operations," he said, but added that strong competition from rivals and customer migration still remain tough challenges for the company.


Updated : 2021-06-15 08:52 GMT+08:00