OTE Telecom fourth quarter profit up as Greek market grows

Nassos DrakosGreek Market

Greece’s biggest telecoms operator OTE posted a 9.4 percent rise in fourth-quarter core profit on Wednesday thanks to growing business at its home market.

The former national monopoly, which is 45% owned and managed by Germany’s Deutsche Telekom, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 355.9 million euros ($384.34 million) for the quarter, up from 325.2 million euros a year earlier.

Source: ekathimerini.com