Cosmote 9-mth group net up 1 pct to 275.9 mln eur; still below expectations

TIRANA, Nov. 10 – Greek mobile operator Cosmote, which also owns Albania’s AMC mobile phone operator, said its nine month group net profits were up one percent, year on year, to 275.9 mln eur on robust sales, however, high forex losses have eaten into profits.
The company said EBITDA growth is the result of steady improvements in the profitability of all international operations with record margins in Bulgaria, Albania and Macedonia, in addition to the strong turnover growth.
Cosmote Deputy CEO, Michael Tsamaz, said that they are ‘on course to meet 2007 targets and remain focused on growing its operational and financial performance’. He added that they are aiming to expand market leadership in Greece and market share gain in other countries.