|
Czech Eurotel Profits Fail to Meet Expectations VOA News 19 Feb 2002 16:25 UTC 
Czech mobile phone leader Eurotel posted lower than expected revenues and profits in 2001, as demand for mobile phones slowed in the Czech Republic.
Profits rose 26.5 percent to $165 million, but were still below analysts' expectations of about $168 million. Sales grew 6.2 percent to $817 million.
Eurotel managed to maintain sales by offering cheap pre-paid services and subsidizing the cost of handsets. The company attracted 1.1 million new customers in 2001, making its total number of users 3.24 million, almost one-third of the whole Czech population.
Almost 70 percent of the Czech Republic's population already use mobile phones, the highest rate in Eastern Europe.
Some information for this report provided by Reuters.
|