MTI – Econews Thursday, August 9, 2018, 11:00 Magyar Telekomʼs second-quarter consolidated group net income amounted to HUF 14.5 billion, according to international accounting standards, up 40.6% from the corresponding period a year earlier, an earnings report published late Wednesday shows. Revenues at MTel were up 9.2% at HUF 167.71 bln, while EBITDA increased by 6.6% to HUF 51.01 bln. According to IFRS accounting standards, profit for the period was up 34.7% at HUF 14.71 bln and EBITDA was up 4.9% at HUF 50.20 bln. Depreciation and amortization costs were up 5.3% to HUF 29.03 bln, and net financial losses improved to HUF 2.99 bln, compared to a net loss of HUF 5.48 bln a year earlier, state news agency MTI reported. In a breakdown of revenue, MTel said mobile turnover grew 4.7% to HUF 83.36 bln, while fixed-line revenue was up 6.0% at HUF 51.06 bln. Revenue from system integration and IT jumped 36.2% to HUF 33.24 bln. Direct costs of sales were up 19.9% at HUF 75.14 bln. Personnel costs were marginally up by 0.3% at HUF 20.20 bln, while the telecom tax represented a HUF 6.6 bln burden, 4.0% more than a year before. Operating income amounted… Read full this story
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