Telecom Italia H1 Operating Profit Rises 10.9%; Revenues Up 7.4%

(RTTNews) - Telecom Italia SpA (TIAOF.PK, TI) reported that its first-half profit to owners of the parent decreased to 596 million euros from 1.02 billion euros, a year ago, with net non-recurring charges of 173 million euros. In comparable terms, profits attributable to the shareholders of the parent company in the first half of 2017 would have totalled over 100 million euros more than in the same period of last year. Operating profit, or EBIT, was up 10.9% to 1.87 billion euros from 1.69 billion euros, previous year.

First-half revenues were up 7.4% to 9.77 billion euros from 9.10 billion euros, prior year. The company said a 676 million euro rise is attributable primarily to the Brazil Business Unit, for 435 million euros, and to the Domestic Business Unit for 247 million euros.