Dutch telecommunication firm Royal KPN NV (KPN, KKPNY.PK, KKPNF.PK) posted a decline in its first-quarter profit, as sales declined from last year, due to sale of Getronics International and competitive mobile markets. The group said it is on track to realize the outlook provided earlier on Feb. 5 2013.
The group reported net profit for the quarter of 140 million euros, significantly down from last year's 306 million euros. Earnings per share fell to 0.10 euros from 0.22 euros a year ago.
For the first quarter, revenues and other income totaled 2.91 billion euros, compared to 3.19 billion euros for the same quarter last year, a decline of 8.8 percent year-on-year. On an underlying basis, revenues were down 4.3 percent.
KPN said it has decided not to pay dividend for the financial years 2013
and 2014, taking into account the expected launch of the rights issue. KPN added that, as said earlier, the rights issue of up to 3 billion euros is expected to be launched shortly after its Q1 results.
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