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RomTelecom profit down 65% in 2000

02.03.2001, 00:00 10



RomTelecom last year obtained net profit of 9.055bn Greek drachmas (about $24.71 million), down 65.4% as compared with 1999, when it amounted to 26.198bn drachmas (about $79.67 million), according to the financial results of the OTE group for 2000. Some of the causes that generated this drop in net profit were the losses registered due to the fluctuation in the exchange rate, in addition to the investment effort made by the company to retool its infrastructure, while tariffs were not updated in Q4 last year, RomTelecom sources said. Mediafax

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