Telenor almost triples fourth quarter earnings

Telenor's fourth-quarter profit more than tripled as it added new customers in emerging markets, particularly in Eastern Europe and in Asia, an Associated Press report said.

The Associated Press report said Telenor earned 6.18 billion kroner ($999 million) in the fourth quarter, compared with 1.7 billion kroner ($277.8 million) a year ago. Sales rose 30% to 24.5 billion kroner ($3.95 billion) from 18.8 billion kroner ($3.06 billion).

The company said it expected sales to grow by 15% to 20% in 2007, the report said.

For the full year, the Fornebu, Norway-based company earned 15.9 billion kroner ($2.6 billion), more than doubling the 7.6 billion kroner ($1.24 billlion) in 2005, the report said.  

Sales rose 37% to 91 billion kroner ($14.6 billion) from 66.6 billion kroner ($10.8 billion) a year earlier.

The company saw subscribers increase in markets like Ukraine, where the number of subscribers rose to 3.8 million and sales increased 36% to 3.02 billion kroner ($488.35 million), the report further said.