Telenet Lifts Revenue but Profit Slips
April 28 2015 - 1:20AM
Dow Jones News
BRUSSELS--Belgian telecom group Telenet Group Holding NV
(TNET.BT) said Tuesday that its revenue rose 6% year-on-year in the
first quarter, to 443.4 million euros ($481.69 million), driven by
more subscriptions for its mobile-phone and triple-play
services.
But net profit fell 12% from the same period in the previous
year, to EUR34.1 million.
Telenet last week announced it would buy BASE Company, Belgium's
third-largest mobile operator, for EUR1.33 billion. The purchase
will help ensure "we are well positioned to effectively compete for
the future growth opportunity of mobile data," Telenet's Chief
Executive Officer John Porter said.
-Write to Tom Fairless at tom.fairless@wsj.com
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