Business News
KPN's net profits increased in Q2, company says
Jul 23, 2009, 6:16 GMT
Amsterdam - Net profit for Dutch telecommunications corporation KPN increased by 4.8 per cent in the second quarter of 2009, the company reported.
Releasing its quarterly report on Thursday, KPN said cost-cutting operations successfully reduced the impact of the recession.
Net profits amounted to 370 million euros (525 million dollars) in the second quarter of 2009, compared with 353 million euros in the same period last year.
Gross earnings increased 4.3 per cent to 1.32 billion euros, but turnover dropped 6.9 per cent to 3.41 billion euros.
KPN said that for all of 2009, it expects a turnover of 13.6 to 13.8 billion euros, just below the 14 billion it made one year before.
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