Bloomberg News

Telekomunikacja Polska Third-Quarter Profit Tops Estimates

October 26, 2011

(Adds analyst’s comment in fourth paragraph, CEO in sixth.)

Oct. 26 (Bloomberg) -- Telekomunikacja Polska SA, Poland’s biggest phone company, posted third-quarter profit that topped estimates by 69 percent on lower-than-expected operating costs and taxes.

The company, known as TPSA, had net income of 376 million zloty ($120 million), compared with a 748 million-zloty loss a year earlier. The mean estimate of 11 analysts surveyed by Bloomberg was 222 million zloty.

The Warsaw-based company’s sales fell 3.8 percent to 3.68 billion zloty in the quarter. The mobile unit’s revenue was little changed at 1.95 billion zloty, while its number of clients rose 3.3 percent, to 14.6 million, in the 12 months to the end of September.

“Operating costs were a positive surprise, as well as lower tax rate and amortization that was about 90 million zloty less than estimates,” Pawel Puchalski, an analyst at Bank Zachodni WBK SA, said by phone today. Amortization fell to 900 million zloty from 940 million zloty in the three months ended Sept. 30.

Telekomunikacja has maintained its 2011 goals, Chief Executive Officer Maciej Witucki told reporters by phone today.

“We don’t see any threats to our goal of sales decline of not more than 4.5 percent this year,” Witucki said.

Link to Statement: NSN LTNQAH3PR6RK <GO>

--Editors: Alan Purkiss, Chris Peterson

To contact the reporter on this story: Marta Waldoch in Warsaw at mwaldoch@bloomberg.net

To contact the editor responsible for this story: David McQuaid at dmcquaid1@bloomberg.net


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