Portugal's Sonaecom 1Q Net Profit Rises To EUR8.2 Million Vs EUR200,000

   DOW JONES NEWSWIRES 
 

Portuguese telecommunications company Sonaecom SGPS S/A (SCN.LB) said late Thursday its first-quarter net profit jumped, helped by an improved gross operating profit and lower operating costs.

In a filing to the Portuguese stock market regulator, the company said it posted a first-quarter net profit of EUR8.2 million, compared with a EUR200,000 net profit registered in the same period a year ago.

Sonaecom's earnings before interest, taxes, depreciation and amortization, or Ebitda, rose nearly 5% to EUR47.9 million on the year, mainly driven by the company's mobile operations.

Sonaecom's operating costs dropped 9.4% to EUR172.1 million in the first quarter.

Meanwhile, first-quarter revenue fell close to 8% to EUR222.8 million from EUR240.9 million, due to a reduction in service revenues and product sales.

Sonaecom, a unit of conglomerate Sonae SGPS SA (SON.LB), is a competitor of Portugal Telecom SGPS SA (PT) and ZON Multimedia SGPS SA (ZON.LB).

Regulator Web site: http://www.cmvm.pt

-By Enza Tedesco, Dow Jones Newswires, [e-mail]

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