France Telecom reports 50-percent 2007 profits jump

0 Comments | AFP, February, 2008

PARIS (AFP) — France Telecom reported on Wednesday a bigger-than-expected profits leap in 2007 and looked forward to steady growth as it held up well in European markets and newer ventures overseas.

The former French state monopoly said that 2007 net profit jumped more than 50 percent to 6.3 billion euros (9.2 billion dollars) on sales which rose by 2.4 percent to 52.96 billion euros.

Analysts had forecast a net profit of between 5.1 billion and 5.5 billion euros with sales at about 52.9 billion euros.

"The results we announce today are better than our forecasts," chief executive Didier Lombard said in a statement.

On a weaker Paris stock market, the outcome gave the shares a boost and France Telecomw was up 1.22 percent at 23.30 euros in early...