Teo sees TV boost from approaching switchover

Lithuanian telco Teo has grown its TV subscriber base to almost 162,000 as the country’s digital switchover approaches, an increase of about 10% year-on-year.

At the end of the third quarter, Teo had 380,800 broadband customers and 615,800 phone customers. Revenue for the first three quarters was LTL570.5 million (€165 million), up 3%. The company posted a net profit of LTL123.6 million, up from LTL117.3 million.

“The continuously improving digital TV and internet services enabled to increase the number of customers using them. Despite the continued shrinking of the Lithuanian telecommunications market this year, Teo increased its revenue, while successful cost control allowed us to improve profitability,” said Arūnas Šikšta, general manager of TEO.