Lithuanian telecoms group Bite, which provides mobile services in Latvia as well as its domestic market, has announced it generated service revenue of EUR38.4 million (USD51.6 million) in the three months ended 31 December 2011, down 0.4% from EUR38.6 million in the year-ago quarter, while total revenue increased by EUR7 million over the same period to EUR45.7 million. Bite said that despite a decrease in interconnection charges, consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose 26% year-on-year to EUR9.0 million in Q4 2011 and rose 11% in full year 2011 to EUR43.6 million, thanks to growth in the firm’s post-paid subscriber base and cost control. The company said its fourth-quarter consolidated net loss narrowed from EUR5.5 million in 2010 to EUR1.6 million a year later
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OVETEL Bite reports slight drop in Q4 service revenues
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