TELE Greenland revenue declines to DKK203.5m in 1Q14

12 May 2014

Greenland’s TELE-POST, the holding company that controls the country’s incumbent telco TELE Greenland, has published its results for the first quarter of 2014, reporting a marginal 1% year-on-year decrease in revenue to DKK203.5 million (USD37.52 million). In the period under review, revenue generated by broadband services increased by DKK3.6 million, while mobile revenues slumped by DKK2.5 million, mainly due to cuts in roaming charges; sales generated by fixed telephony services also declined, by 16% compared to 1Q13.

Net profit for the twelve months to end-March 2014 also declined, to DKK28.3 million, from the DKK34.3 million reported in 1Q13, mainly attributed to price cuts, major investment in 2013 and higher depreciation costs. TELE-POST, however, reported that the total number of subscriptions increased by 7.2% in the period under review, due to ‘the development of e-commerce’.

Greenland, TELE Greenland,

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