TDC upgrades 2005 forecast after strong progress in Q2  

2005.08.08
Denmark's largest telecom provider TDC increased its sales by 8.5% to DKK 11.7 bn in Q2 compared to the same period last year, and has upgraded its forecast for 2005 revenues and profits by DKK 300 mn

Denmark's largest telecom provider TDC has published its Q2 result which shows that sales increased by 8.5% to DKK 11.7 bn (USD 1.9 bn) compared to the same period last year. TDC's Danish mobile business saw a 9.9% rise in revenues to DKK 1.7 bn (USD 289 mn), and operating profits were also up by 9.9% to DKK 600 mn (USD 102 mn). Mobile telephone customers in Denmark total 2.5 million, equivalent to almost half the Danish population.

Henning Dyremose, group chief executive of TDC comments on the results: "Our increased investments in the rollout of broadband and a 3G network, together with a targeted acquisition strategy, have strengthened our market position, so we are well prepared to continue our progress in earnings".

TDC has upgraded its forecast for 2005 revenues by DKK 300 mn (USD 51 mn) to DKK 46.9 bn (USD 7.9 bn), and profits by DKK 300 mn (USD 51 mn) to DKK 4 bn (USD 680 mn). The expected increase in profits is primarily due to the reduction in Danish company tax from 30% to 28%. The news was reported by Computerworld and on the TDC website.

The TDC Group develops and operates communication solutions, and has activities in 12 European countries and Oman in the Middle East. With a staff of 22,000 people, the TDC Group is one of the largest communication operators in Scandinavia.

Link > TDC 

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