Denmark's leading telecom posts bumper Q2 profits  

Encouraged by promising Q2 figures, telecom TDC upgrades its year-end profit forecast by 21%

Denmark's leading telecommunications operator TDC posted its Q2 figures yesterday, which show a 7.9% growth in EBITDA to DKK 3,768 million from Q2 2002 to Q2 2003. Net income excluding one-off items and fair value adjustments amounted to DKK 681 million, up 32.5%. The TDC result gave analysts a pleasant surprise and shares were immediately in great demand, jumping 4%. TDC has upgraded its net income forecast by 21% and now expects net income to hit DKK 2.3 billion for this year. The company also noted in its accounts a marked performance progress for TDC in Switzerland.


TDC's president and CEO Henning Dyremose commented "Since 2001, we have focused on improving EBITDA and cash generation. The continued strong improvement in EBITDA and reduction in capital expenditure in Q2 2003 underlines the success of this focused effort." The news is reported on TDC's website.



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