Belgacom helped by TV
August 27, 2007
Belgacom reported profit that beat analyst estimates for the second quarter on higher sales of high-speed Internet access and raised its forecasts for mobile-phone and fixed-line revenue. Net income rose 12 per cent to E245 million a share, from E219 million a year earlier.
The rising profit seems to validate Belgacom’s strategy of expanding its Internet and television offerings to counter declining sales at the fixed-line phone business. The company added 119,929 broadband Internet clients in the 12 months through June, for a total of 1.18 million. The number of clients for Belgacom’s digital TV offerings increased 37 per cent.