Profit hike for Albanian mobile operator AMC
Uncategorized Tuesday, February 27th, 2007(AENews) – Leading mobile operator AMC reported an increase in revenue and
profit during 2007, despite strong opposition from Albanian Authorities for non-competitive
practices.
In 2006, revenue
reached EUR 151mn or an 9.7% increase compared to 2005. Net profit reached EUR
49.9mn or a 20.3% increase compared to 2005. Performance indicators, such the profit
rate were improved. Increase in profit was sustained by a lower profit tax
introduced by the Albanian government last year. The Greek telecommunications
group Cosmote owns 85% of AMC’s shares.
AMC has defended against
the competition watchdog and telecommunication authority during last year
following strong pressure from media and customers for its non-competitive practices
in the telecommunication market. Competition watchdog issued a EUR 1.2mn fine
for AMC and is currently still under investigation.
Telecommunications
Authority has declared both AMC, and its competitor Vodafone Albania, as non-competing
companies, a measure that could permit the Authority to regulate prices in this
market.
Government of Albania
had suffered pressure from Greek government to stop attacks against AMC. Meanwhile,
Albania hopes that the Greek parliament will ratify Stabilization and
Association Agreement, which Tirana has already signed with the European Union.
Short URL: http://www.albanianeconomy.com/news/?p=238
Posted by
on Feb 27 2007. Filed under Uncategorized.
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