Good for Business, Latvia, Technology, Telecomunications

Lattelecom group companies in the first half of 2017 posted EUR 90.6 million in revenues, down 5% from the respective period last year, when the group's revenues were EUR 95 million. The company representatives explained with with a considerably lower turnover in the construction sector - the group's company Citrus Solutions that deals with construction of infrastructure reported a drop in its revenues.

Lattelecom representatives said that revenues from traditional TV services rose by 4%, while revenues from internet TV - film, series and online broadcast app Shortcut - increased by more than half.

Thanks to a broader range of goods and postponed payment opportunity, sales of electronic devices increased by 56%.

Also, in therevenues from telemetry services or remote collection of measurement data increased by one third compared to the respective period last year.

More and more companies are aware of importance of safe data storage, therefore Lattelecom data center business revenues rose by 16%. Wholesale revenues for international data flow and transit also increased by one third.

Lattelecom, established in 1992, is a provider of integrated electronic communication, television, Internet and IT services in Latvia. Lattelecom shareholders are the Latvian state (51%) and the Scandinavian telecommunications group Telia Company’s subsidiary Tilts Communications (49%).