February 13, 2018 / 6:46 PM / 11 days ago

Telekom Austria 2017 profit falls due to amortisation of local brands

VIENNA, Feb 13 (Reuters) - Telekom Austria on Tuesday reported a 16 percent fall in its full-year profit largely due to the amortisation of local brand values after the roll out of its “A1” brand throughout the group in different countries.

The group, part of Mexican tycoon Carlos Slim’s America Movil, reported net profit of 345.5 million euros ($426.83 million) on revenue of 4.38 (2016: 4.21) billion euros.

It said it expected revenue to grow 1-2 percent in 2018. ($1 = 0.8095 euros) (Reporting by Kirsti Knolle. Editing by Jane Merriman)

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