ECONOMY

OTE sees its earnings up by 22 pct

Greece’s largest telecom group OTE said yesterday its second-quarter net profit rose by 22 percent year-on-year, in line with market expectations, boosted by higher revenues from its mobile phone unit Cosmote. OTE, listed on the Athens stock market, reported net profit of -136.6 million compared to -112 million in the same period last year. Analysts polled by Reuters had forecast net profit ranging between -129 million to -174 million. (Reuters)