Falling fixed-line revenues drag TP's Q1 results down

The figures were far lower than those recorded in Q1 2004 when the operator had a net profit of zł.609 million on revenues of zł.4.59 billion. The bad financial results sparked a drop in TP's share price on the Warsaw Stock Exchange. TP's mobile telecom subsidiary, Centertel, was the main factor behind the drop in revenues, as its increase in sales amounted to less than zł.200 million. Meanwhile, revenues from fixed-line operations declined 12.5% and analysts expect this downward trend to continue. "We need to become used to Centertel's revenues not growing at a rapid pace anymore and revenues from fixed-line operations falling. The rising share of data transmission is not yet significant enough to have a bearing on TP's total results," said DM BZ WBK brokerage analyst Paweł Puchalski. (Puls Biznesu, p. 12) T.J.