ECONOMY

Forthnet’s pretax earnings fall 22.5 pct

forthnet-amp-8217-s-pretax-earnings-fall-22-5-pct

Athens-listed Forthnet on Monday reported a 0.2 percent increase in its pay TV (Nova) subscription base in the year to end-September, but its pretax earnings (EBITDA) declined 22.5 percent on a yearly basis to 38.9 million euros.

“While the economy and the retail sector contracted this year, leading us to be cautious about our commercial approach, our total subscribers’ base remained stable. Still, being an innovative company, with unique know-how regarding both Greek pay TV and the telecommunications sector, we continue to focus on creating services that differentiate us from the competition,” said Forthnet CEO Panos Papadopoulos.