TP answers the call
Poland's dominant fixed line operator, Telekomunikacja Polska (TP) won praise last week when it posted first-half and second-quarter results that beat analysts' expectations. First-half sales totaled zł.9.042 billion, 1.5 percent lower than last year, but still ahead of forecasts. For the second quarter alone, sales amounted to zł.4.6 billion. Operational profit rose year-on-year to zł.1.07 billion, up 14 percent on the same period last year.
Analysts said that after a three-percent drop in Q1 sales, TP seemed to be back on track, making up for it's loss of fixed-line customers with higher revenues from its mobile brand, Idea.
"These are very nice figures. Fixed-line sales fell by less than the market had expected, and it's also positive that the fall was balanced out by growth in mobile and data sales," said Pawel Puchalski, an analyst at Bank Zachodni WBK brokers.
Markets reacted positively to the news. On the back of the announcement, the company's share price rose by 2.3 percent to reach zł.22.10 on the Warsaw Stock Exchange (WSE).
In both 2003 and 2004 TP cut sales forecasts for the year, and yet still missed targets. This year, it expects sales growth of one percent. (Reuters)
Analysts said that after a three-percent drop in Q1 sales, TP seemed to be back on track, making up for it's loss of fixed-line customers with higher revenues from its mobile brand, Idea.
"These are very nice figures. Fixed-line sales fell by less than the market had expected, and it's also positive that the fall was balanced out by growth in mobile and data sales," said Pawel Puchalski, an analyst at Bank Zachodni WBK brokers.
Markets reacted positively to the news. On the back of the announcement, the company's share price rose by 2.3 percent to reach zł.22.10 on the Warsaw Stock Exchange (WSE).
In both 2003 and 2004 TP cut sales forecasts for the year, and yet still missed targets. This year, it expects sales growth of one percent. (Reuters)
