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Greece's ΟΤΕ fourth-quarter core profit down 1.4 pct
March 2, 2017 / 8:17 AM / 9 months ago

Greece's ΟΤΕ fourth-quarter core profit down 1.4 pct

ATHENS, March 2 (Reuters) - Greece’s biggest telecoms operator OTE posted on Thursday a 1.4 percent drop in fourth-quarter core profit, hurt by tough conditions in Greece and weak performance in Romania.

OTE, 40 percent owned and managed by Germany’s Deutsche Telekom, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 343.7 million euros ($362.09 million) in the fourth quarter, down from 348.5 million euros in the same period a year ago.

The figure strips out one-off items.

OTE will pay a dividend of 0.16 euros a share, up from 0.10 euros it paid on 2015 profit. It said it doesn’t expect a material change to current trends in the coming quarters. ($1 = 0.9492 euros) (Reporting by Angeliki Koutantou)

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