Pharol Q1 net loss widens to 66 million euros

Tuesday, 31 May 2016 

Pharol SGPS SA : Reported on Monday Q1 net loss widens to 65.9 million euros ($73.3 million) versus loss of 43.0 million euros year ago . Q1 EBITDA loss of 1.5 million versus loss of 4.0 million euros year ago . Says result is mainly influenced by the effective participation in Oi's net losses of 64.1 million euros and cancellation of 10 percent of the value of a call option on Oi .Says reduced its operational costs by 63 percent compared to Q1 2015.