World VoIP NewsKPN reports rising profit in Q4KPN reports rising profit in Q4

KPN reports rising profit in Q4


voip, mobile operators, mobile subscribers, internet
Dutch telecoms group KPN today reported that fourth-quarter net income for the period ended 31 December 2009 rose to EUR1.08 billion (USD1.52 billion) from EUR296 million in the same period a year ago.

Dutch telecoms group KPN today reported that fourth-quarter net income for the period ended 31 December 2009 rose to EUR1.08 billion (USD1.52 billion) from EUR296 million in the same period a year ago.

The figure included a EUR705 million tax credit at its German mobile telephony arm E-Plus. After a review, KPN discovered it can take more tax deductions from past losses at E-Plus than it thought. Group revenue and other income from existing operations, excluding disposed operations at Getronics, fell 6.9% from EUR3.62 billion to EUR3.37 billion, it said; the telco’s reported revenue dropped 9.3%.

In addition, KPN has cut or outsourced 3,554 jobs in the past year, equivalent to around 10% of its work force, which was 33,148 at year-end. It said it planned to cut or outsource an additional 2,000 jobs in 2010. The firm also confirmed its outlook for 2010 and announced a new EUR1 billion buyback programme for this year.



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