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General

Pharol reports EUR 2.8 million loss in H1

Friday 14 September 2018 | 11:05 CET | News
Pharol (formerly Portugal Telecom) reported a loss of EUR 2.8 million in the first half of this year, compared to a profit of EUR 200,000 in the same period a year ago. The company's equity decreased by EUR 27.3 million, mainly due to the decrease in the Oi participation amounting to EUR 24.8 million and operational costs of EUR 2.4 million (-10% on H1 2017). After the capital increase from the conversion of debt, Pharol holds less than 8 percent of Brazilian operator Oi, compared to 27.18 percent previously. 

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Categories: General
Companies: Oi / Portugal Telecom
Countries: Portugal
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