PTC Q1 net results down despite increased market share

PTC, operator of mobile network Era GSM, achieved first quarter net profits of zł. 42.4 million on revenues of zł.1.3 billion. Profitability has fallen somewhat, but the company has reduced its debts and foresees improved results for the whole of 2003. More than half a million new subscribers in Q1 of 2003 secured PTC an income 13.2% higher than in the parallel period of 2002. Era posted profit of zł. 1.27 billion, or zł. 79.4 per subscriber. "We remain the uncontested leader among operators, with a 35.4% market share and 5.24 million subscribers," said PTC president Bogusław Kulakowskit. However, profitability has visibly dipped in comparison to last year as this quarter's net profit is 19% lower than last year. Operational profit was also down, falling by 39.7% in relation to 2002. (Puls Biznesu, p. 7) A.C.