Lattelecom holds steady

February 4, 2014 08.36 Europe/London By Chris Dziadul

LattelecomThe Latvian incumbent Lattelecom has posted a profit of €28.5 million for 2013.

In a statement, the company says last year’s financial indicators, namely gross profit and EBITDA, remained at the previous year’s level, with the only negative feature being an €11 million fall in the profits of Latvijas Mobilais Telefons (LMT), a mobile operator 23% owned by Lattelecom.

LMT also saw its revenues fall for the second year in a row. Lattelecom adds that its success in 2013 was down to the introduction of innovative services, as well as improved customer service.

Lattelecom is a leading player in Latvia’s broadcast industry, operating interactive TV, DVB-T and web TV services.