Bulgarian telco Vivacom has posted revenues of BGN858 million (USD590 million) for 2012, down 3.4% year-on-year. However, a cost cutting programme helped the company record net income of BGN20.3 million, almost three times the BGN7.2 million achieved in 2011. Sales from fixed line services continued to fall, reaching BGN460 million, a decrease of more than 11% year-on-year, while revenue from the company’s mobile operations increased 7.8% to BGN398 million. Vivacom also revealed that during 2012 its mobile subscriber base increased by almost 17%, while TV subscribers grew by more than 84%.
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