PTC Era snatches Q3 profit through 24% client hike

Eastern Europe's largest mobile telecom operator, PTC (Era network), said yesterday it had moved to a third-quarter profit from a loss though its full-year profit may still shrink by up to 30%. PTC posted a zl. 77 million net profit, against a loss of zl. 152 million a year ago but was hit by a provision of zl. 53 million for a regulatory dispute. PTC's earnings before interest, tax, depreciation and amortization (EBITDA) came in at zl. 488 million. After nine months of 2002 the number of PTC's subscribers rose by 493,000, or 24% year-on-year, to 4.55 million giving the company 36% of the three-operator market. According to the company's report, its third- quarter revenue grew 14% year-on-year to zl. 1.316 billion, while monthly average revenue per user (ARPU) fell 9.9% to zl. 96. According to PTC's chief financial officer, Jonathan Eastick, the firm is headed for a net profit of zl. 300 million in 2002, down from last year's zl. 427 million due to currency fluctuations and a price war between the country's three mobile operators, saying, "knowing the zloty's strength, a net profit of zl. 300 million looks possible." (Puls Biznesu, p. 3; Reuters) J.K.