Magyar Telekom IPTV subs up 69%

Magyar Telekom has reported that Q2 net profit more than doubled from a year ago when it was hit with one-off legal fees, and flagged price rises and spending cuts for the second half to improve its underlying profitability.

Net profit for the three-month period came in at €38 million, up from €15.6 million in the same period of 2011.

The Hungarian telco also saw continued success with its IPTV operations, both in Hungary and its other CEE markets – Macedonia and Montenegro. As of the end of Q2, the platform had 276,344 subscribers, up 68.7 per cent from the same period last year

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