Netia results below consensus

Poland’s second largest telecommunications firm Netia generated a net profit of PLN 8.3 million in the second quarter of 2014, 3.3 percent lower than in the corresponding period of 2013. Analysts surveyed by the Polish Press Agency had expected it to be PLN 12.1 million. The company’s operating profit in Q2 amounted to PLN 14.2 million and was 46.3 percent lower than in Q2 2013. It was also lower than market consensus of PLN 20.1 million. Netia’s sales revenue stood at PLN  422.2 million in Q2 2014 and declined by 11.6 percent year-on-year. Analysts had expected it to be PLN 425.6 million.