Telecoms group Orange says competition dented sales growth, confirms targets

0
53


PARIS (Reuters) – Orange, France’s biggest telecoms operator, strengthened profits in the third quarter despite heavy competition in its home country and Spain that dented sales growth.

FILE PHOTO: The logo of French telecoms operator Orange at the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau/File Photo

The results, which met market expectations, underscore the relevance of the group’s strategic focus on combined fixed-mobile offers, Orange said in a statement on Thursday.

The so-called “convergent” offers helped core operating profits rise by 3 percent to 3.69 billion euros ($4.2 billion).

Group revenues, however, grew by a mere 0.6 percent over the period to 10.3 billion euros, due to hefty promotions offered by telecoms operators in Spain and in France, where the price war has intensified over the last few quarters.

“This game will some day have to stop,” Chief Financial Officer Ramon Fernandez said during a…



Read the Full Story here

LEAVE A REPLY