January 27, 2020 / 5:03 PM / 23 days ago

O2 Czech Republic Q4 net profit jumps 16.7% y/y

PRAGUE, Jan 27 (Reuters) - Fixed and mobile operator O2 Czech Republic raised net profit by 16.7% year-on-year in the fourth quarter, beating expectations, as operating expenses dropped, data in company’s results showed on Monday.

The company, majority-owned by the richest Czech businessman Petr Kellner’s PPF group, reported a 17% jump in earnings before interest, tax, depreciation and amortisation (EBITDA).

Both the net profit and EBITDA beat expectations of analysts in a Reuters poll.

Operating expenses decreased by 7.9% to 1.97 billion crowns ($86.94 million) in the fourth quarter.

The operator’s revenues rose 3.4% to 10.17 billion czech crowns in the last quarter of 2019, beating market expectation of 9.88 billion crowns. ($1 = 22.6590 Czech crowns) (Reporting by Robert Muller)

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