KPN’s Q2 net profit, revenue down; firm cuts dividend

Under pressure Dutch telecoms operator KPN Telecom (or Royal KPN) has reported a sizeable fall in net income for the three months ended 30 June 2012, forcing it to slash its dividend to EUR0.35 (USD0.42) per share in 2012, down from the previous figure of EUR0.90 a share; it paid a dividend of EUR0.85 in fiscal 2011. Amid fierce conditions in its home market, the Dutch carrier booked net profit of EUR315 million in the three months under review, down sharply from EUR414 million is the corresponding period of 2011, impacted by weak margins – particularly in its home mobile (consumer) business

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OVETEL KPN’s Q2 net profit, revenue down; firm cuts dividend