Turk Telekom announces H1 2010 net income increase

20 Jul 2010

Turk Telekom (TT) has announced its financial results for the six months ending 30 June, reporting a net income of TRY1.14 billion (USD739.8 million), a 39.7% increase compared to the corresponding period of 2009, when the telco generated TRY821 million. Buoyed by new mobile tariffs and rising broadband sales, 1H performance exceeded analyst expectations.

Although it reported that both fixed line and mobile subscribers decreased – to 16.27 million and 11.47 million, down 4.7% and 7.6% respectively year-on-year – Turk Telekom’s broadband unit showed a 7.2% increase in customers from 6.04 million to 6.48 million. Interestingly, the number of low-value pre-paid mobile subscribers at TT’s cellular subsidiary Avea fell (down 12.1% to 7.03 million), whilst more lucrative post-paid subscribers increased by 0.9% to 4.45 million. At the same time, actual mobile minutes used increased by 9.3% to 268 million.

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