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Monday, 28.10.2024, 15:24
LMT's profit in 2010 increased by 27%; turnover dropped by 12.6%
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These numbers indicate that the company's profitability is increasing. "We have improved our work and decreased our expenditures by 30%, thus reaching EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) margin of 40%," the company said in the announcement.
As LETA reported, LMT's consolidated profit in 2009 was LVL 25.18 million, turnover – LVL 151.12 million. Compared to 2008, the consolidated profit dropped 56.07% and the turnover decreased 21.5%.
LMT's head Juris Binde said that the company forecasts that its turnover will increase 2-3% this year, and has also increased its investment to LVL 18 million.
According to Binde, "LMT is a positive signal to Latvia's economy because it indicates that the situation is stabilizing and there is a growth potential in the next few years. In the telecommunications sector it means that the prices have evened out and the customers choose the telecommunications operators according the availability of network and the quality of service, which suits their individual needs".
LMT also reports that the total number of its clients in 2010 increased by 25,000 and reached 1,067,707.
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