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Polish Orange sticks to dividend after surprise Q4 net profit
February 12, 2015 / 4:53 PM / 3 years ago

Polish Orange sticks to dividend after surprise Q4 net profit

WARSAW, Feb 12 (Reuters) - Poland’s No.1 telecoms group Orange Polska maintained dividend payout at 0.5 zlotys per share from 2014 profit after it surprised with swinging into net profit in the fourth quarter of last year, it said on Thursday.

Cost cuts and savings helped the Polish unit of the French Orange group book a net profit of 30 million zlotys ($8.2 million) after one-off provisions resulted in a loss of 102 million a year earlier.

Analysts expected Poland’s incumbent telecoms operator, to report a loss of 15 million zlotys. Fourth-quarter sales came in at 3.09 billion zlotys, beating market expectations of 3.04 billion.

Orange Polska added it expected its 2015 organic cash flow at around 900 million zlotys compared to 1.15 billion booked last year, with investments in its fiberoptic network seen at up to 450 million zlotys. ($1 = 3.6558 zlotys) (Reporting by Adrian Krajewski; Editing by Marcin Goettig)

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