Friday, October 26, 2007

TeliaSonera announces 'best ever' quarterly earnings

Published: 26th October 2007 11:12 CET
Online: http://www.thelocal.se/8911/20071026

Swedish-Finnish telecommunications operator TeliaSonera said on Friday its third quarter net profit increased 8.1 percent to 6.2 billion kronor (675.2 million euros, 969 million dollars), against 5.75 billion in the same period of 2006.

The company's turnover increased seven percent to 24.8 billion kronor, against 23.16 billion last year.

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"Group earnings were the best ever in the third quarter, driven by strong sales growth and substantial profit contributions from our minority owned operations in Eurasia," CEO Lars Nyberg said.

The company also announced a 10 billion kronor extraordinary dividend for 2007.

In opening deals TeliaSonera shares were up 6.9 percent at 62 kronor following the news, on a Stockholm stock exchange which was 0.5 percent higher.
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