Deutsche Telekom Q1 loss narrows with final figures

Deutsche Telekom (DT) announced yesterday that its net loss in the first quarter narrowed to 358m euros (£216.2m), from a...

Deutsche Telekom (DT) announced yesterday that its net loss in the first quarter narrowed to 358m euros (£216.2m), from a comparable figure of 975m euros in the fourth quarter.

The loss is slightly less that the 400m euros the company reported in its preliminary results for the quarter on 24 April. Revenue is exactly as projected, up 16.2% at 11.1bn euros compared to 9.5bn euros the previous year.

Excluding newly consolidated companies, revenue increased by about 7%, DT said in a statement.

The loss takes account of charges for amortisation of goodwill (408m euros) and interest charges and amortisation of costs for 3G mobile networks (446m euros), DT said. Excluding these costs and before taxes, DT realised profits for the quarter of 866m euros, up 22.7% from last year's figure.

The figures put DT on course to meet its growth target of over 15% for the financial year 2001, the company said. In 2000 DT broke even, excluding one-time gains and taking into account consolidations.

Shares in DT were up almost 1% at 27.15 euros in midday trading on the Frankfurt stock exchange.

Contact Deutsche Telekom at http://www.telekom.de/ .

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