Lithuania's TEO reaches 28,000 IPTV subs in H1

July 24, 2008 - Lithuanian telco TEO has released its results for the first half of this year and states that it now has 28,000 subscribers for its IPTV service, up from 25,000 at the end of the first quarter of 2008.

The company also has 6,600 customers for its terrestrial TV service, launched in March of this year. The total number of broadband customers increased by 19,100 in the first six months of this year and totalled 277,700 at the end of the period. Total revenue across all operations for the first six months of this year reached LTL410mn (US$186.1mn), up 8.3% from the first half of 2007, while net profits increased 16% by the same comparison to reach LTL89mn.

“Results for the first half of 2008 are excellent," said Arūnas Šikšta, General Manager of TEO. "The company is successfully implementing its strategic goals and actively expanding its customers’ base. In spite of an increase in fixed operating costs and decline in services prices due to market regulations in the future, the company will seek to increase its profitability by efficiently managing expenses and increasing sales volumes.”