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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 00:13

Profit of Latvia’s LMT dropped in 2015, turnover grew

BC, Riga, 13.06.2016.Print version
Latvijas Mobilais Telefons (Latvian Mobile Telephone) mobile operator in 2015 earned EUR 17.201 million, which is by 12% less than a year ago when the company earned EUR 19.579 million, reports LETA, according to Firmas.lv business database.

Meanwhile, the company’s sales last year rose by 5% to EUR 151.347 million in contrast to EUR 144.469 million a year ago.

 

The company’s management said that the drop in profits can be explained with amortization and depreciation, following investments of the previous years in development of the data network of the latest generation.

 

LMT group last year posted EUR 22.1 million in profit and EUR 179.2 million in turnover.

 

In 2014 LMT group’s turnover reached EUR 161.3 million, and profit was EUR 22 million.

 

Founded in 1992, LMT is the oldest mobile operator in Latvia. LMT shareholders are Scandinavia's TeliaSonera (49%), Lattelecom (23%), the state-owned Latvian State Radio and Television Center (23%), and the Latvian Transport Ministry (5%).

 

LMT group comprises also LMT Retail&Logistics and ZetCOM companies.






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