Belgacom reports fall in core profit
25 October 2013 | Kavit Majithia
Telecoms group Belgacom has reported a 7.7% fall in core profits for Q3 2013, as mobile phone revenues continue to decline.
The company generated core profits of €428 million, but the results were still above the €426 million estimated in a recent poll by Reuters analysts.
It is also on track to meet its full-year guidance, with the company further claiming that revenues had been affected by regulatory measures, but that it had already estimated for the loss.
Its investments so far this year were reported at €546 million, with funds mainly allocated towards increasing speed and capacity on its mobile, fixed and IT networks, in addition to increasing its presence in digital TV.
The Belgian operator said its mobile arm Proximus had expanded its 4G LTE coverage, with its network now spanning across 213 cities and towns in Europe.