Financial and business news from Bulgaria

Telenor's profit for the last quarter of 2019 is BGN 88 million, growing by 3.6% year-on-year

Telenor reported profit before taxes of BGN 88 million for the last quarter of last year. This is a growth of 3.6% year-on-year. This keeps the trend that was observed in the previous quarters of the year, the operator reports.
Total revenues for the quarter exceeded BGN 201 million, registering a 3.1% growth compared to the same period of 2018, mainly due to the higher average revenue from a consumer which reached BGN 15.90 or 7.8% above the level of the fourth quarter of 2018. company on improving efficiency, has also led to the higher profit.

As a result of the ongoing trend in the SIM card consolidation market, the number of customers of Telenor decreased slightly in the quarter compared to the same period of the previous year and reached 3 million subscribers, of which 19% are prepaid users.

Increasing network quality and customer experience are a major focus for the company throughout 2019, as a result of which the Telenor network received a Best in Test certificate from the international company for measuring the quality of mobile networks umlaut after testing Measurements for six different indicators in the second and third quarter of 2019, the company also reported.

Telenor is a leading telecommunications company with over 3 million active users in Bulgaria. As of August 1, 2018 Telenor Bulgaria, together with Telenor Hungary and Telenor Serbia-Montenegro, are part of the PPF Group. PPF Group invests in numerous market areas - banking and financial services, telecommunications, mechanical engineering, biotechnology, insurance, real estate and agriculture. PPF Group operates in Europe, the US and Asia. The group owns assets worth more than €45 billion (as of December 31, 2018).

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