Continued cost cutting helped telecoms group KPN to a 2% increase in third quarter net profit, the company said on Tuesday.

Net profit rose to €406m while sales rose slightly to €3.3bn. In the Netherlands, sales were down, but German unit E-plus booked strong growth.
KPN restated its full-year forecasts. ‘Overall we are confident of achieving our objectives for 2010 and the outlook for 2011, which will provide the platform for KPN to move forward in 2011 under the leadership of Eelco Blok,’ CEO Ad Scheepbouwer said in a statement.
Blok is to take over from Sxheepbouwer next April.