Warsaw (IFN) Polands largest alternative telephone operator, Netia Holdings SA, Wednesday said it posted a consolidated net profit in the third quarter on a gain from remission of license fees of its unit El-Net.
Netia is part owned by Icelandic investment fund Novator, which holds a 70% stake in the company?s mobile arm P4. Netia owns the remaining 30%.
As result Netia reported a net profit of PLN17.7 million in the third quarter, down from a net profit of PLN22.6 million in the year-earlier period.
That was well above the average forecast of a PLN10.5 million loss in a Dow Jones Newswires survey of four local analysts.
The companys total revenue eased to PLN230.5 million, from PLN230.7 million in the third quarter of 2005.
Netia said it has maintained its full-year revenue forecast of PLN870 million to PLN895 million. The company said it would likely post a consolidated net loss this year due to its share in the startup costs of its minority-owned third-generation mobile operator P4.
Netia said its share of losses of P4 for the third quarter was PLN7.3 million, and PLN15 million in the nine months.
P4 has delayed the prepared launch of mobile services to the first quarter of 2007, from the earlier planned fourth quarter of 2006, due to delays in obtaining necessary administrative permits, Netia said.
P4 has already signed a national roaming agreement to use the network of incumbent mobile operator Polkomtel and has signed a framework transmission agreement with Netia that could potential pay the latter PLN280 million in fees over five years.
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