Cosmote sees fall in profits

Mobile operator Cosmote missed market expectations with a 2.9 percent fall in second-quarter profit, weighed down by start-up costs at its Romanian mobile unit. The country’s largest mobile carrier by user numbers said net profit fell to 81.5 million euros ($104.5 million) compared with 83.9 million euros in first-half 2005 and below a median forecast of 86 million euros by analysts in a Reuters poll. Cosmote Romania launched in 2005, had a 25.8-million-euro net loss in the second quarter. (Reuters)