TeliaSonera posts 12% profit increase

TeliaSonera posted a 12% increase in first-quarter net profit, driven by higher sales and strong contributions from its operations in Russia and Turkey, an Associated Press report said.

Net profit rose to 4.47 billion kronor (480 million euro; $752 million), from 3.98 billion kronor a year ago, beating analysts' expectations of 4.08 billion kronor (euro438 million; $686 million), the report said.

Sales in the quarter rose 7% to 24.4 billion kronor (euro2.62 billion; $4.10 billion), from 22.72 billion kronor, topping expectations of 23.97 billion kronor (euro2.57 billion; $4.03 billion).

The Stockholm-based company reiterated previous guidance that net sales are expected to show stable growth in the financial year 2008 from the previous year, the report said.

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