Dutch incumbent operator KPN Telecom, or Royal KPN as it is also known, has reported a 63% year-on-year decline in net income for its fourth quarter ended 31 December 2011, attributable to competition in its home market and the impact of impairment charges related to its IT services business Getronics. The telco has reacted to the weak results by lowering its outlook for FY2012 – a period it sees as one of transition in an unstable macroeconomic climate. The Netherlands’ biggest telecoms company by subscribers and revenue reported net profit of EUR176 million (USD227.9 million) in Q4 2011, down from EUR475 million in the corresponding year-ago period, impacted by a EUR298 million charge on Getronics.
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OVETEL KPN books 63% fall in Q4 profit; lowers outlook, scraps buyback
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