Era GSM operator announces zl.73.1 million profits in first quarter of 2001

Polska Telefonia Cyfrowa (PTC), operator of the Era GSM network, is reporting profits of zl.73.1 million in the first quarter of this year, based on turnover of nearly zl.970 million. The company, which was operating in the red a year ago, has succeeded in attracting some 400,000 new customers so far this year, and now holds a market share of 41.26%. At the same time, PTC has announced plans to invest over zl.1.8 billion in enlarging its network and building up its subscribers. The company plans to generate the funding from three sources: a bond issue, a loan from a bank consortium, and its own funds. PTC also plans to construct a trial UMTS network, the cost of which it has not revealed. Poland's other two GSM operators, Polkomtel with 35.3% of the market and Centertel with 23.4%, have yet to publish their first quarter results. (Puls Biznesu, p.6; Prawo i Gospodarka, p.4) M.K.