KPN announces 2008 profit
KPN has announced a net profit for 2008 of 1.3 billion euros.
THE HAGUE—Although this was half the amount booked for 2007, KPN said that that last year's profit was due mainly to a tax windfall. With the windfall removed from the equation, the profit in both years was almost identical.
Announcing it was happy with the annual figures, KPN pointed out that turnover for 2008 had increased by 16 percent and said it had witnessed growth in broadband television and mobile phone services. It added that fewer people are cancelling their landline telephone subscriptions and that losses in that area remained limited. It also said it had still not experienced any serious consequences from the global economic crisis, although it did transfer 120 million euros to its pension fund to compensate for reduced coverage.