KPN Q3 profit rises on cost savings

Telecoms company KPN said on Tuesday cost cutting had led to a 12% increase in net profit in the third quarter of this year, but sales were down nearly 9%.

The former state monopoly booked net profit of €395m on sales of €3.3bn. The decline in sales was largely due to a fall-off in business custom at Getronics and iBasis, KPN said.
KPN CEO Ad Scheepbouwer said in a statement the company’s performance was ‘resilient’.

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