ECONOMY

Greece’s HOL reports H1 profit for the first time

Greek telecom operator Hellas On Line (HOL) on Tuesday reported a first-half net profit of 2 million euros – the first in its history, against losses of 6.5 million in the same period last year.

This was despite a 8.1 percent fall in revenues, but with operating profits rising 3.4 percent to 43.7 million euros.

HOL said it won a 63 percent share in net new connections in the second quarter, bringing the total number of its customers to 515,000 at end-June.