Telecom Profits fall
Posted by admin . Published on 25 February 2010, Received
Two of Europe’s biggest telecoms firms have seen big drops in annual profit. Deutsche Telekom reported a net profit of 353m euros ($476m; £311m) for 2009 - a drop of 76% on the previous year.
France Telecom’s profit fell 26% to 3bn euros. The group said it was focusing on employment conditions after a series of suicides by workers last year. Incoming France Telecom chief Stephane Richard said a new scheme this year would put customers and employees “at the heart” of the firm’s priorities. The group’s profit was hit by charges related to resolving the suicide crisis. Overall revenue fell 1.9% to 51bn euros.
