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Article: Hungarian telco Magyar Telekom H1 '06 profits fall 10.8% y/y on higher depreciation, financial costs.
- Article from:
- Hungary Business News
- Article date:
- August 10, 2006
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Hungarian telco Magyar Telekom H1 '06 profits fall 10.8% y/y on higher depreciation, financial costs
BUDAPEST. AUGUST 10. INTERFAX CENTRAL EUROPE - Magyar Telekom, Hungary's dominant telecom provider and a unit of Germany's Deutsche Telekom, recorded net income of HUF 36.9 bln (EUR 137 mln) in the first half of 2006, down 10.8% from the same period a year earlier (y/y), the company said in its consolidated report published Thursday.
Magyar Telekom attributed the drop to higher depreciation and amortization expenses, as well as increased financial costs, mainly the result of higher forex losses on the weakening forint. The company's H1 net profit was also ...