Dutch telecom operator KPN says profits jump

27th April 2010, Comments 0 comments

Dutch telecoms operator KPN said on Tuesday that first-quarter net profit soared 42 percent on a 12-month comparison on the back of a cost-cutting drive.

The company said first-quarter net profit came to 449 million euros (600 million dollars), beating analyst forecasts for around 390 million euros compiled by Dow Jones Newswires.

KPN said the improved performance reflected cost cutting, largely 945 job losses last year.

Sales for the first three months of the year fell 3.5 percent from a year earlier to 3.28 billion euros, it said, but it confirmed its 2010 revenue forecast for around 13.5 billion euros.

© 2010 AFP

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