PT profits grow 9.9% in last quarter

Profits recorded by Portuguese telecommunications operator PT rose 9.9% in the last quarter of 2012 to €41.4 million, compared with €37.6 million in the same period of 2011, according to the results released by the Portuguese Securities Market Commission. The result was above the official estimates which predicted a net profit of €30 million. Annual profits, however, fell 32.1% to €230.3 million compared to the €339 million recorded in 2011. In 2012, PT invested a total of €1.3 billion, equivalent to 20% of its profits (€6.5 billion). In Portugal, the company invested €555 million, mainly on Meo in its fibre optic network and fourth generation mobile communications.