TEO LT, AB Group, an integrated telecommunication, IT and TV services provider,
announces its unaudited Consolidated Interim Financial Statements for the six
months of 2007, prepared according to International Financial Reporting
Standards as adopted by the European Union, and Consolidated Interim Report for
the six months of 2007.
The total consolidated TEO Group's revenue for the six months of 2007 was EUR
109.8 million, an increase by 4.6 per cent over the total revenue of EUR 104.8
million for the six months of 2006. Total revenue, excluding Comliet
construction activities that contributed EUR 0.5 million during the year 2006,
grew by 5.1 per cent over the year.
Profit before income tax for the six months of 2007 was up by 14.2 per cent and
amounted to EUR 26.9 million (EUR 23.7 million a year ago).
Profit for the period (including minority interest and profit from discontinued
operations) amounted to EUR 22.3 million, an increase by 18.4 per cent over EUR
18.8 million a year ago.
Arūnas Šikšta, General Manager of TEO LT, AB, has made the following comments
on results for the first six months of 2007:
“The Company's results for the first six months of the year 2007 are good.
Compared to the first half of the last year, the Company's revenue increased by
more than 5 per cent (excluding the sold construction business) and the total
number of users of different service groups went up. We successfully launched a
new generation network, which we now continue to implement, offered new
services to residential and business customers. In future, this will allow to
enhance the network operation quality and to increase our revenue.”
ENCL.: TEO LT, AB Interim Consolidated Financial Statements for the six months
of 2007 (in litas) and TEO LT, AB Interim Consolidated Report for the six
months of 2007 (in litas).
Jan-Erik Elsérius,
Chief Financial Officer and Deputy General Manager,
tel. +370 5 236 76 03.
