Partner Q2 profit jumps 130% on lower revenue

Partner/Orange
Partner/Orange

Partner CEO: The results reflect our ability to cope with intense competition.

Mobile phone operator and Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) reported a huge jump in profit for the second quarter despite lower revenue.

Revenue was NIS 1,087 million (US$ 316 million) in the second quarter, down 4% from the corresponding quarter. Net profit during the second quarter was NIS 46 million (US$ 13 million), up 130% from the corresponding quarter. Adjusted EBITDA was NIS 291 million (US$ 85 million), up 4% from the corresponding quarter.

Partner CEO Haim Romano said, "The results of the second quarter of 2014 reflect the company’s strength and its ability to cope with the continued and intense competition in the telecom market. Adherence to the company’s strategy - which is based on creating a competitive advantage with an emphasis on technological innovation and quality of service - was reflected this quarter."

Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

Partner/Orange
Partner/Orange
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