DOW JONES NEWSWIRES
Portuguese telecommunications company Sonaecom SGPS S/A (SCN.LB)
said late Thursday its first-quarter net profit jumped, helped by
an improved gross operating profit and lower operating costs.
In a filing to the Portuguese stock market regulator, the
company said it posted a first-quarter net profit of EUR8.2
million, compared with a EUR200,000 net profit registered in the
same period a year ago.
Sonaecom's earnings before interest, taxes, depreciation and
amortization, or Ebitda, rose nearly 5% to EUR47.9 million on the
year, mainly driven by the company's mobile operations.
Sonaecom's operating costs dropped 9.4% to EUR172.1 million in
the first quarter.
Meanwhile, first-quarter revenue fell close to 8% to EUR222.8
million from EUR240.9 million, due to a reduction in service
revenues and product sales.
Sonaecom, a unit of conglomerate Sonae SGPS SA (SON.LB), is a
competitor of Portugal Telecom SGPS SA (PT) and ZON Multimedia SGPS
SA (ZON.LB).
Regulator Web site: http://www.cmvm.pt
-By Enza Tedesco, Dow Jones Newswires,
enza.tedesco@dowjones.com
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