Telecom posts 29mn H1 profit

(ANSA) - Milan, August 7 - Telecom Italia said Friday that it registered a net profit of 29 million euros in the first half of 2015 after setting aside a 399-million-euro provision for costs, including possible antitrust fines. It said its revenues for the first six months of this year amounted to 10.1 billion euros, down 3.3% on the same period in 2014. "The results posted for the first half of 2015 recorded non-recurring charges for a total of 399 million euros," read a company statement.
    "These charges - connected with events and operations that, by nature, do not take place continuously in normal operations - are highlighted insofar as of significant amount and include charges deriving from company reorganisation/restructuring, charges consequent to regulatory disputes and sanctions and related liabilities with customers and/or suppliers".
    CEO Marco Patuano said the Italian telecommunications market improved significant significantly in the first half of the year.
    "The results of the second quarter of the year show solid improvement in turnover in Italy, which has grown by 113 million euros as compared with the first three months of the year, rising both in fixed and mobile," Paduano said.
    "TIM is once again confirmed as the country's top mobile operator, increasing revenues from innovative services by 21.8% on 2014".
    Giuseppe Recchi highlighted how much Telecom Italia was investing in the domestic market.
    "During the second quarter of the year too, Telecom Italia has continued to invest in our country's future," he said.
    "We have invested more than 2 billion on developing new fixed and mobile ultrabroadband networks, making for a 25.7% increase on the same period of last year. "We are certain that, thanks to our great efforts, Italy will be able to achieve the Digital Agenda targets and play a leading role in Europe."