BGAOY Proximus Group (PK)

   By Julian E. Barnes 
 

BRUSSELS--Belgian telecommunications company Proximus (PROX.BT) posted a 12.9% drop in net profit, as total income declined.

Proximus's net profit was 126 million euros ($140 million) at the end of May, down from EUR145 million a year earlier. Total income was down 3.1% at EUR1.460 billion from EUR1.505 billion.

The sharpest decline continued to be in Proximus's income from outside of Belgium, which it calls BICS. Revenue from BICS was down 12.7% as customers continued to shift to data from voice services.

The company noted its domestic revenue was slightly, 0.7%, higher, as revenue increased from its fixed data and television services. These offset declines in mobile revenue, which the company attributed in part to the European Union's rules that reduced roaming fees this year.

The European Union is set to completely eliminate roaming fees on June 15, 2017.

Proximus maintained its revenue guidance and continued to report it expects domestic underlying revenue and total underlying earnings before interest, taxes, depreciation and amortization to increase slightly in 2016. It also still plans to pay a dividend of EUR1.50 a share.

-- Write to Julian E. Barnes at julian.barnes@wsj.com

(END) Dow Jones Newswires

July 29, 2016 02:03 ET (06:03 GMT)

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