KPN reports 31% fall in Q4

KPN posted a 31% drop in quarterly profit on Tuesday as it continued to lose fixed-line customers to mobile phone companies and cable firms. KPN lost 130,000 fixed-line customers in the last three months of 2006 alone.

But KPN’s own internet telephony division now claims 500,000 customers while its mobile phone unit has 8.6 million clients, a 7% increase on the year, ANP reported.
KPN said its full year earnings are up slightly from €1.45bn to €1.5bn. The company forecasts flat core earnings and revenue in 2007 and announced a €1bn share buy-back scheme.

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