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France Télécom first-half revenue rises as profit slides

First-half revenue and operating income at France Télécom rose slightly, boosted by strong growth in the mobile phone and...

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First-half revenue and operating income at France Télécom rose slightly, boosted by strong growth in the mobile phone and broadband internet access markets, although net income dipped.

Consolidated revenue for the group for the first half totalled €23.2bn (£15.3bn), up 1.4% on the year-earlier period, or up 4.2% on a comparable basis. Comparable figures cited by the company assume constant exchange rates and exclude the effects of acquisitions or sales of operations.

The company reported operating income for the half-year of €5.3bn, up 13.5%, or 12.8% on a comparable basis, and net income after minority interests of €1.1bn, down from €2.5bn a year ago.

The company reduced its debt to €48bn by 30 June, down from €49.3bn a year earlier.

Revenue from France Télécom's mobile telephony businesses rose 10.7% to €9.5bn for the half-year, and now accounts for almost as much of the company's revenue as its historic core business, fixed line telephony.

The company still expects to meet its objectives for the full year, including revenue growth of between 3% and 5% on a comparable basis. It also aims to increase research and development expenditure from 1.1% of revenue last year to 1.3% this year and 1.5% next year.

Peter Sayer writes for IDG News Service

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