14.1 C
London
Saturday, July 13, 2024
HomeGlobal NewsTelenor Boosted by Nordics Mobile Growth

Telenor Boosted by Nordics Mobile Growth

Date:

Related stories

Putin’s war is the cause of NATO enlargement

Reporting from the NATO summitWe’re now hearing from US...

Russian Deputy Defense Minister Tatyana Shevtsova stole millions from Putin

Former Russian Deputy Defense Minister Tatyana Shevtsova, who officially...

Vienna-Based Russian Operatives Accused of Paying for Pilot Kuzminov’s Murder

The Wall Street Journal, citing sources within Western intelligence...

Europe’s leaders welcome Starmer after ‘historic’ UK election

European Council President Charles Michel hails a “new cycle...

Tajikistan Passes Bill to Ban Hijab Despite 98% Muslim Population

Tajikistan officially banned the hijab, imposing hefty fines in...
spot_imgspot_img

Telenor Group credited increased revenue from mobile services and security products for driving growth in the Nordic region during Q2, though cited a continued challenging operating environment for its divisions in Asia.

In its financial report, Telenor highlighted service revenue increases for its mobile divisions in Europe, which were supported by price changes. It also pointed to growing subscriber numbers in Sweden and Finland.

CEO Sigve Brekke said the company was “seeing firm operational momentum”, adding “quality connectivity for customers and attractive security offerings continue to drive growth”.

He added Telenor continued to “focus on progress in modernisation and efficiency initiatives that will drive improved cash flow generation over time”.

Brekke noted its interests in Asia performed solidly in “a challenging operating environment”, pointing to strong cost management and data revenue growth.

However, Telenor cited a continued tough market in Pakistan, given the high level of inflation in the country.

Net profit was NOK821 million ($82.6 million), up from a loss of NOK1.1 billion in Q2 2022, though the latter was heavily impacted by an impairment related to its business in Pakistan.

Service revenue was up 5 per cent to NOK15.8 billion in the recent quarter.

Source : Mobileworldlive

Latest stories

spot_img