Tele2 boosts quarterly profit 25%

Swedish operator Tele2 claims it has never been in better shape financially, after boosting 4Q09 profits 25% year-on-year to 865 million kronor (€85.5 million).
 
The carrier says the growth is the result of its strategy to focus on mobile communications, which resulted in it adding 1.15 million new subscribers across all its markets during the quarter, leaving it with 26 million subscribers in total.
 
However, the firm’s 4Q profits fell short of analyst forecasts, which predicted the telco would generate 949 million kronor during the period. In addition, revenues fell to 9.89 billion kronor from 9.99 billion in 4Q08.
 
The company improved its cash flow from Central Europe, which it says shows a strategy of focusing on business performance rather than market share in Western Europe is starting to pay off.