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International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 10:59

LMT posts higher gross profit in H1

BC, Riga, 20.07.2015.Print version
The telecommunications company Latvijas Mobilais telefons (LMT) posted EUR 78.5 million in turnover in the first half of the year 2015 – a 6% reduction on the first half of 2014 when the company's turnover totaled EUR 83.2 million, as LETA learned from LMT.

The company's gross profit or earnings before interest, taxes, depreciation, and amortization was EUR 28 million in January-June, which is 9% more than in the first half of 2014 when LMT's EBITDA totaled EUR 25.5 million.

 

LMT did not reveal the company's net profit in the first half-year.

 

The number of LMT clients has increased by more than 28,000, and the company had 1,119,193 clients at the end of June.

 

According to LMT, the higher gross profit is thanks to higher income from the company's basic services, particularly "Internet in Computer" and "Internet in Telephone", and a remarkable increase in sale of smart phones – 77%.

 

As reported, LMT closed 2014 with EUR 144 million in turnover – 10% decrease on 2013 when the company turned over EUR 161 million. LMT's profit in 2014 amounted to EUR 19.6 million – about 14% down from 2013.





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