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Comptel doubles Q4 profit despite lower revenues

Friday 17 February 2017 | 14:55 CET | News

Comptel doubled its profit in the fourth quarter to EUR 8.0 million, despite revenues slipping 8.2 percent from the year before to EUR 29.9 million. Earnings per share lifted to EUR 0.07 from 0.04 though the operating profit slipped to EUR 5.0 million from 5.6 million. The company will not pay any dividend for the period to end December. There will only a dividend, of EUR 0.04 per share, if the EUR 347 million acquisition of Comptel by Nokia does not go through.

For the full year, revenues grew 2.3 percent to EUR 100.0 million, with the operating profit rising almost 30 percent to EUR 11.0 million and the reported profit jumping to EUR 11.7 million from 4.5 million and EPS leaping to EUR 0.11 from 0.04.

For the year, CEO Juhani Hintikka said revenues were boosted by both of the company’s business units and strong performance in EMEA. The company experienced some delays in APAC as well as heightened competition while in Latin America, conditions remained challenging, pushing the company to implement changes in order to improve its operational structure. The situation in the region is expected to get better this year. Comptel increased investments in the North American market in 2016, saying this build a good foundation for future growth.

Going forward, the company expects full year 2017 revenues to grow at double digit percentage, with EBIT amounting to 10-15 percent of revenues.  Comptel noted that historically, it tends to book higher operating profit and revenues in the second half of the year. 



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