February 9, 2015 / 6:31 AM / 3 years ago

Telenor's key Asian units report profit growth behind forecasts

OSLO, Feb 9 (Reuters) - Two of Norwegian telecom firm Telenor’s key Asian subsidiaries both reported solid fourth quarter earnings growth figures on Monday but both were slightly behind market expectations.

Malaysian subsidiary DiGi’s quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 8.7 percent to 1.64 billion crowns ($216 million), Telenor said, but trailed expectations for 1.69 billion crowns.

In Bangladesh, Grameenphone’s EBITDA rose 24 percent to 1.16 billion crowns but trailed expectations for 1.18 billion.

For 2015, Telenor said DiGi’s revenues are expected to grow by low to mid single digits while both the EBITDA margin and capital expenditure would stay flat. The firm did not provide guidance for Grameenphone.

Telenor will report fourth quarter earnings on Wednesday. (Reporting by Balazs Koranyi, editing by Terje Solsvik)

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