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Article: Portugal: Sonaecom net profit plummets.(Financial report)
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Portuguese telco Sonaecom has reported a 67.7% year-on-year drop in net profit for the third quarter of 2009, down from EUR4.2 million (USD6.18 million) in 3Q08 to EUR1.4 million a year later. This was however an improvement on the previous quarter, when the firm reported net profit of EUR1.2 million. Sonaecom attributed its falling profits to a drop in revenues which outweighed cost-cutting measures. Revenues for the period amounted to EUR235 million, down from EUR251.3 million a year earlier.
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