PARIS, March 24 (Reuters) - Telecoms and cable group Altice Europe reported better-than-expected quarterly earnings on Tuesday, as its main French division continued to add subscribers in both its fixed and mobile businesses.
Amsterdam-based Altice Europe, founded and controlled by Franco-Israeli tycoon Patrick Drahi, said core operating profits grew by about 14% in the fourth-quarter on a constant currency and yearly basis to 1.45 billion euros ($1.56 billion).
Revenues rose 11% to 4 billion euros in the three final months of 2019. This beat the average of analysts’ expectations compiled by the company.
Debt-ridden Altice Europe said it expected to further grow revenue and profits in 2020. It also expects to further reduce its debt burden by reaching a debt-to-earnings ratio for its telecoms activities of 4 to 4.5 times.
$1 = 0.9267 euros Reporting by Mathieu Rosemain, Editing by Benoit Van Overstraeten