Lithuania’s TEO and Omnitel report growing profits

Lithuanian telecommunication group, owned by Sweden’s Telia Company, has reported growing revenue for the second consecutive quarter.

Teo LT, provider of landline and internet services and owner of the mobile operator Omnitel, says its made €11.6 million in profits between April and June this year.

The company’s profit over the second quarter last year was €7.8 million.

The group’s total revenue stood at €84.2 million in April-June this year, a 3.6% increase compared to the same period in 2015, when Teo LT and Omnitel reported €81.2 million in revenue.

Teo LT acquired Omnitel from TeliSonera last autumn.

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