Telefonica Czech Republic AS (BAATELEC.PR, TFATF), majority owned by Spain's Telefonica SA (TEF.MC, TEF), Thursday reported a slightly lower-than-expected drop in its first-quarter net profit and confirmed its earlier unveiled full-year guidance.
-First-quarter net profit came in at 1.62 billion koruna ($83.2 million), beating market expectations of CZK1.61 billion and down 6.9% from CZK1.74 billion in the year-earlier quarter.
-The company reported a 3.3% annual drop in first-quarter revenue to CZK12.47 billion, below market expectations of CZK12.53 billion.
-Operating income before depreciation and amortization dropped to CZK4.78 billion, down 5.7% from CZK5.07 billion a year earlier.
-Telefonica Czech confirmed its outlook for 2012, including improving trends in business revenue compared with 2011 and a limited erosion of its operating margin. Revenue in 2011 dropped 5.7% from 2010, and operating margin stood at 43.7% last year.
-The company will hold a presentation on its results after 1200 GMT Thursday.
-By Leos Rousek, Dow Jones Newswires; +420 222 315 290; firstname.lastname@example.org
(Go to http://blogs.wsj.com/emergingeurope for the new WSJ and Dow Jones blog on Central and Eastern Europe, covering business, politics, society and more, written by our correspondents across the region.)
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