\tTelia’s acting president and CEO Christian Luiga (pictured) highlighted improvements in its free cash flow and service revenue, alongside a reduction in expenses during Q3, though this did little to prevent a near 16 per cent drop in net profit.<\/p>\n
In a statement, the executive noted Telia previously indicated its performance would improve [1] during the back-half of 2019, following a sluggish start to the year, adding figures for the third quarter “confirms this”.<\/p>\n
An upturn in business during the quarter was “driven mainly by \u201cacquisitions and working capital\u201d, he said, adding operating expenses fell 4 per cent. Declines in service revenue slowed in Q3, down 1.2 per cent compared with an overall drop of 2 per cent during H1.<\/p>\n
Despite Luiga’s bullishness, net income attributed to shareholders fell 15.9 per cent year-on-year to SEK2.4 billion ($246.9 million) on revenue of SEK21.2 billion, up 2.4 per cent.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/telia-predicts-improvements-after-muted-start\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Telia’s acting president and CEO Christian Luiga (pictured) highlighted improvements in its free cash flow …<\/p>\n
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