BUSINESS BRIEFS

Slovak Telecom profits down

FIXED-line operator Slovak Telecom made a net profit of Sk2.07 billion (€50 million) in the first nine months of 2004, down by 11.2 percent year-on-year, it announced October 22, according to the TASR news wire.

Based on the international financial reporting standards (IFRS), the figures show revenues down by 5.4 percent on the year, at Sk12.66 billion (€315 million).

Slovak Telecom's EBIDTA - earnings before interest, deductions, taxation and amortisation - dipped from Sk6.6 billion (€170 million) to Sk6.1 billion (€150 million). This was reflected in the production profit, which fell by 41 percent to almost Sk1.3 billion (€30 million).

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